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US: UBS wealth merger creates US$172b powerhouse

 |  January 22, 2018

UBS is set to merge its US and global wealth divisions into a new unit, Global Wealth Management, continuing its plans to streamline operations.

Martin Blessing, president of wealth management, and Tom Naratil, president of UBS Americas and wealth management Americas, have been appointed co-presidents of the new division.

Two years ago, the bank began to more closely align its international and north American units in a bid to provide “superior client experience and product offering in line with the needs of an increasingly global client base.”

UBS believes the combined business division will enable the bank to more effectively leverage the purchasing power of its US$1.7 trillion asset base and realise greater scale across areas of new investment.

Full Content: Finews.asia

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