UBS Group AG appointed Patrick Grob head of global wealth management unified global markets, one of dozens new leadership roles in its investment bank as the Swiss lender continues to integrate former rival Credit Suisse.
Among the appointments announced in memos to employees were a small number of Credit Suisse bankers, including Olivier Charhon, who was named operating officer for risk and resource management for UBS investment bank. Neil Hosie, formerly head of global equities at Credit Suisse, was appointed to co-head global markets distribution.
A spokesperson for UBS confirmed the contents of the memo.
The appointments are part of the third round of management changes made in the wake of the Credit Suisse takeover. UBS appointed its key leadership team in May, with almost all top roles being filled by existing management board members or long-term UBS senior leaders.
Rob Karofsky retained his role as head of the investment bank, and named George Athanasopoulos and Jason Barron as co-heads of global markets. The bank appointed Michael Ebert, who came from Credit Suisse, to lead its investment banking division across the Americas.
UBS has shown little appetite for Credit Suisses’s investment bank since the government-brokered takeover was announced in March. It has insisted it would continue its own strategy of a smaller capital-lite securities unit.
Employees in Credit Suisse’s wealth unit, by contrast, have been told to dust off their resumes to be considered for potential management roles once the third round of appointments is completed, Bloomberg has reported.
UBS also confirmed the following appointments for the global markets team, among others:
- Brent Johnson, Head of Execution Services
- Dushyant Chadha, Head of Derivatives & Solutions
- Natalie Horton, Head of Financing
- Chris Purves, Head of Digital Platforms
- David Innerdale, Head of Global Markets Risk & Trading
- Thomas de Garidel, Co-Head of Global Markets APAC
- Tim Wannenmacher, Co-Head of Global Markets APAC
- Paolo Croce, Head of Global Markets EMEA
The leadership team for global banking will be announced later this month, according to the memo.
(Adds context on wealth unit in seventh paragraph.)