UBS has reorganised its investment products and services (IPS) division across the UK and Jersey.
The news, which brings about a significant number of changes to the 100-strong UK team, was announced by Nick Perryman, UBS head of IPS, UK & Jersey.
The employee memo shown to PBI reveals the following amendments made in recent months:
Banking products – mortgage solutions
Mortgage advisers Ben Geldenhuis and David Knott have been recruited bringing with them 15 years and 11 years of financial experience respectively.
UBS, which anticipates transactions exceeding £500m ($770m) of new loans this year, also welcomed new recruits Michael Driscoll and Sutha Mohanadas, who will serve as mortgage administrators.
Investment management (IM)
Perryman said that former HSBC portfolio manager Gareth Thomas will head the IPS IM program management office, which is responsible for UK equities stock selection.
This follows the reassignment of Kevin Baker who was transferred to IPS IM in Switzerland. Faruque Ahmed has also joined the IPS IM product lifecycle management team.
Jersey – execution services
Guy Newman will rejoin the team at IPS Jersey in execution services next month after Nadja Smith was transferred to the Jersey location risk unit. Newman originally left the firm in 2008 and later returned as a contractor.
With 14 years of tax and trust experience, Euan O’Neill will take up maternity cover for Sarah Allatt in the wealth planning advisory division. Chartered financial planner Julian Warden has also been welcomed to the financial planning team.
The amalgamation of the financial planning support team from operations into IPS was also announced. Perryman said that this was a part of a plan to strengthen the delivery of financial planning advice.
As a result, Gemma Britten, Ivan Foad and Beryl O’Neill are to be transferred into the IPS wealth planning product development & management groups and William Clark, Gareth Lewis and Donna Overson have been appointed para-planners.