UBS chief Oswald Gruebel sent this message to UBS employees today.
Today, I am please to announce the appointment of Robert J. McCann as Chief Executive Officer of UBS Wealth Management Americas and Member of the Group Executive Board of UBS AG with immediate effect.
This decision to appoint Bob in this role has strong implications for the next stages of the Bank’s recovery process. Success in the Wealth Management Americas business is one of our highest priorities and today’s appointment sends a compelling signal to the market. Bob joins UBS after a 26-year-careeer at Merrill Lynch, where as President of Global Wealth Management he led one of the largest wealth management advisory teams in the world. Under his leadership, I am confidence that Wealth management Americas will consolidate its position as the firm of choice for clients.
I would like to take this opportunity to thank Marten Hoekstra, who has led our US Wealth Management business since 2005. Under Marten’s leadership, Wealth Management Americas has become one of the industry’s most productive advisory forces, and I’d like you to join me in whish Marten success in his future endeavours.
I recognise that many eyes are current on UBS as we prepare for the announcement of third quarter results and Investor Day. Our immediate focus is on returning to profitability, and I am confident that we have the fundamentals in place. Thank you for all your dedication and hard work, and I could on your support as we continue our turnaround,
Oswald J. Gruebel
Group Chief Executive Officer.