UBS Wealth Management USA has named Mike Mimick as the new head of its Midwest market.

In his new role, Mimick will head UBS’s wealth management business as well as lead financial advisors in the region comprising Minnesota, Nebraska, Missouri, Oklahoma, Kansas, Wisconsin, Iowa, South Dakota and North Dakota.

Mimick, who joined UBS 18 years ago, has been working as a field leader at the firm since 2007.

Prior to the new appointment, he was looking after the company’s advisors in Nebraska, Kansas, Missouri, and Oklahoma.

Before joining UBS, Mimick served in different leadership roles in the financial services sector.

UBS division director Jennifer Povlitz said: “Mike is dedicated to the Midwest Market and has been a driving force in growing our presence in this important region.

“We are committed to being the firm of choice for our clients and our advisors, and I’m confident that under Mike’s leadership, our advisors will effectively deliver the full breadth of UBS’s capabilities for our clients in the market.”

Last month, UBS announced $1.65bn of net profit attributable to shareholders for Q4 2022, an increase of 23% from $1.34bn in the year ago period.

Total revenues at the firm declined 8% to $8bn during the same period from $8.7bn in the corresponding period a year ago.

These results come after the group’s Asia Pacific president Edmund Koh reportedly revealed his expectation to see an increase in the company’s Asian wealth business this year after China’s decision to reopen the border.