The chief risk officer of UBS, Maureen
Miskovic, has been replaced after less than a year in the position,
by her predecessor, Philip Lofts.
Lofts previously held the chief risk officer’s
position at UBS between 2008 and 2010.
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The move comes as part of a major management
shuffle at UBS due to which the Swiss giant has expanded the roles
of its top wealth management executives.
Role expansions
CEO of wealth management Americas, Robert
McCann, will assume Loft’s position as the CEO of UBS Group
Americas, in addition to his current role.
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By GlobalDataUlrich Korner, the current group chief
operating officer and CEO corporate centre, will also hold the
position of CEO UBS Group for EMEA. This position was previously
held by the now CEO of UBS, Sergio Ermotti.
Initiating change
The UBS shuffle represents the first
management move made by Ermotti since he was confirmed as CEO on 15
November.
At UBS’s
investor day, the lender said it plans to extend its leadership
positions in Switzerland, Europe, Asia-Pacific and the emerging
markets, and will continue to build on its Wealth Management
Americas business.
