Daily Management Review

UBS To Switch Its Luxembourg Wealth Management Head


07/21/2018


Mottas to explore “other opportunities” in UBS.



There are a quite few shuffles lined up for Swiss bank UBS in the coming months as the bank has plans of changing the Luxembourg wealth management’s leaders in the month of October as the said region seems to undergo changes. Moreover, the bank will also make its move to buy “Nordea’s private banking business” in the month of January.  
 
Rene Mottas will be replaced by Heinrich Baer, the ex-head of “Affluent & International Markets WM in Europe, the Middle East and Africa”, while Motta will be seen returning to Switzerland’s UBS after a gap of seven years which he spent in “the Benelux region”. During this time, Mottas has occupied various positions including that of the “Country Head UBS Luxembourg”.  
 
Baer will be coming to Luxembourg in the month of August and will assume a membership of the “WM EMEA Management Committee”. According to a statement of the UBS, Mottas “will look for other opportunities within UBS”.
 
While Reuters added:
“With Nordea’s 150 employees, that will bring the Luxembourg office to about 600 workers once that transaction closes in the second half of 2018”.
 
 
References:
reuters.com







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