UBS Brings Corporate, Wealth Arms Closer - Report

Tom Burroughes

1 February 2019

has hired corporate banking veteran Christian Rosset to lead a new wealth management team designed to develop corporate offerings for entrepreneur clients, Reuters reported.

The offering is designed to appeal to the many high net worth and ultra-HNW clients whose wealth straddles personal and operating business concerns. The appointment means that UBS is pushing harder to meld its corporate and investment capabilities with its wealth management arm across the EMEA region.

The report’s details were confirmed to WealthBriefing by the Swiss bank.

"A majority of the new clients we attract are entrepreneurs," EMEA wealth management head Christine Novakovic was quoted as saying. "If we set up a small, effective team of people who have come over from the investment bank or corporate banking business, and who know our product offerings inside out, then we can build a bridge over to wealth management."

"For new clients, it's about being able to provide all-around services for their firms and having that be an anchor for getting into business... That will help us bring in fresh money and generate growth within wealth management," Novakovic said. "We'll be starting out in certain markets and then gradually expanding the team, building up in other regions."

Earlier, Rosset had served as head of income-producing real estate in the corporate and institutional clients division. He has extensive experience in corporate banking and has held numerous roles in corporate banking business development in Switzerland, France and in the US.