One of the most senior figures in the group's wealth business is leaving, while the bank is changing its structure to reflect developments such as the rapid build-out of its regional business.

The head of UK domestic business at UBS, Nick Tucker, is leaving the Swiss firm after a stint of nine years in the role and as the group builds out its UK regional presence, this publication can exclusively report.

The growth in the firm's regional presence and hence its reporting lines has prompted UBS to revamp its management structure, WealthBriefing understands.

"Our domestic HNW business has doubled under Nick's leadership, and in many ways set the standard for UBS globally in serving HNW clients – particularly as it relates to client satisfaction, CA productivity and working with clients to help them understand the purpose of their wealth," Eva Lindholm, head of wealth management for the UK and Jersey, said in an internal memo seen by this publication.

Prior to joining UBS, Tucker worked at the head of the private banking arm at Merrill Lynch and at the time his appointment was a high-profile move by UBS.

Changes
UBS said it is changing its private wealth management structure, replacing it with a high net worth London segment and a UK regions segment.

Mark Goddard, MD, and currently a desk head in PWM, will assume the role of head of the HNW London Segment reporting to Lindholm and will join the wealth management UK & Jersey management committee, with immediate effect.

HNW London will consist of all the existing HNW desks - the Strategic Partnership Team and the Business Development Team. Goddard has been with UBS since 2005 and, as well as being the desk head since 2012, was formerly the head of sales management for the location.

Jonathan Brown, MD, will continue to lead the regional HNW segment, reporting to Lindholm, and will join the WM UK and Jersey MC, with immediate effect.

The names of the UK segments are now WM2: High Net Worth London, WM3: UK regions, WM4: Emerging Markets London, the memo said.

Shona Baijal, another long-term UBS leader, joined the MC in March, having taken over a part of Tucker's responsibilities earlier this year, leading the newly-formed Growth & Efficiency segment, referred to as WM1. Amir Sadr continues to run WM4 Global Emerging Markets London.