Today sees major changes at the top of two giants of UK wealth management.

UBS loses Emmanuel Fievet who, since 2006, has been managing director and head of UK onshore wealth management at the Swiss bank. Mr Fievet is joining Barclays Wealth as managing director, head of international private banking, Europe, Middle East and Africa, with effect from the start of December 2008.

Mr Fievet replaces Gerard Aquilina who is promoted to vice-chairman of Barclays Wealth.

Meanwhile at UBS John Pottage will be stepping down from his current role as chief executive of Wealth Management UK. Andre Cronje has been appointed as Business Unit Head UK and CEO Wealth Management UK, with effect from  1 September. Mr Pottage will assume the role of head of UBS Wealth Management's UK Domestic business, Mr Fievet's old role.

UBS said that it has simplified the executive management structure for its Wealth Management division in the UK by combining the roles of Business Unit Head and CEO of Wealth Management UK.

Mr Cronje joined UBS in 2000. He started his career with UBS Warburg, Corporate Finance in Johannesburg, spent two and a half years with IBD, M&A based in London, before moving to Wealth Management in 2003 to establish its internal M&A team. In 2006 he transferred to Group Strategic Advisory and assumed responsibility for Group M&A. He became head of GSA in April 2007, responsible for business development and UBS Group strategy execution.

The moves comes at a time when Barclays Wealth has been running a high-profile marketing campaign in the UK and elsewhere. Meanwhile, UBS has been battling to restore the fortunes of its wealth management operation after suffering heavy defections to firms such as UK wealth management start-up Vestra.

In its statement, Barclays Wealth said that Gerard Aquilina, who has worked at Barclays Wealth for two years since leaving HSBC, will take on the role of vice-chairman, Barclays Wealth. He is currently head of international private banking at the UK bank. Mr Aquilina’s new responsibilities will involve the management of many of the firm’s most important and high profile international client relationships in addition to new business development.

“In Gerard Aquilina we have an experienced wealth management professional and advocate for Barclays Wealth, who is ideal for the new role of vice-chairman. And in attracting Emmanuel to the firm, we have added both strength and depth to our leadership team at a time when we see great opportunities to expand our footprint across the globe,” said Thomas Kalaris, chief executive at Barclays Wealth.

Barclays Wealth, the UK's largest wealth manager by client assets, had £132.5 billion client assets as at 31 December 2007. At UBS's UK wealth arm, assets under management stood at £38.5 billion as at June 2008, up from £37 billion in December, 2007.