Private banking giant UBS has named Simone Westerfeld as new head of its private client business in Switzerland.

She will replace Roger von Mentlen, who will step down at the end of 2019 after ten years tenure.

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Mentlen, however, will continue to advise UBS until the end of April next year in order to facilitate a smooth changeover.

A dual citizen of Switzerland and Germany, Westerfeld currently leads the bank’s multinationals & strategic transactions sector within the business area CIC International.

In this position, she is responsible for overseeing UBS’ sophisticated international corporate clients.

She began her career at Deutsche Bank and Credit Suisse and was worked for five years for UBS starting in 2000.

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Later, she joined Basler Kantonalbank (BKB) as CFO and named group CFO subsequently. Last year, she was appointed as deputy CEO of BKB and shortly named as the CEO of the company.

Concurrently, the Swiss wealth manager hired Martha Boeckenfeld lead its newly-created division for digital platforms and marketplaces.

Böckenfeld has over two decades of experience in management positions in the area of financial services. She most recently served as CFO of the BHF Kleinwort Benson Group and as CEO of Kleinwort Benson Bank.

She will report directly to UBS Switzerland president Axel Lehmann.

Lehmann commented: “On behalf of UBS I would like to thank Roger for his hard work and unwavering commitment to the bank over the last 40-plus years and wish him all the best for the future.

“I would also like to welcome two new and exceptionally qualified colleagues, Simone Westerfeld and Martha Böckenfeld, to the EC of UBS Switzerland.

“With their extensive international and operational experience, they will be a great asset in discussions within the team on how to create sustainable and profitable growth.”