Swiss bank UBS is in talks to hire former Merrill Lynch executive Robert McCann to head its wealth management business in the Americas, Reuters has reported. Earlier, the Financial Times had said talks had accelerated after the Swiss bank struck a deal last week over a U.S. tax dispute that has worried clients and caused massive outflows at UBS wealth and asset management divisions. McCann, who headed the wealth management business at Merrill Lynch until early this year, has not reached a final agreement with UBS, it was said. If hired, McCann would replace Marten Hoekstra, head of UBS’ wealth management business in the Americas. UBS reorganized its wealth management business by separating its Swiss banking business from its international franchise. Under the new structure, Franco Morra will head the new UBS Switzerland while Juerg Zeltner will lead the international wealth management business.
UBS in Talks to Hire McCann to Head its Wealth Management Business
Swiss bank UBS is in talks to hire former Merrill Lynch executive Robert McCann to head its wealth management business in the Americas, Reuters has reported. Earlier, the Financial Times had said talks had accelerated after the Swiss bank struck a deal last week over a U.S. tax dispute that has worried clients and caused [...]
August 5, 2009