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UBS Group is restructuring its wealth management department in the USA to drive growth.
In order to improve profitability in the USA market, which is crucial for its growth plans, UBS Group has made structural adjustments to its wealth management division in the USA. According to a memorandum sent to employees by Rob Karofsky and Michael Camacho, the heads of the USA wealth management business, the business will shift from two departments to four regional departments, along with an international client team and a consulting center. UBS is seeking to obtain a broader banking business license in the USA. In addition to the immediate integration of Credit Suisse, CEO Sergio Ermotti is also focusing on expansion in the USA.
Sector Update: Financial Stocks Mixed Tuesday Afternoon
Sector Update: Financial
UBS Reorganizes US Wealth Management Unit in Growth Push
