MOVES-UBS hires LatAm wealth management executive from Deutsche Bank

ZURICH, April 19 (Reuters) - UBS has hired Matthias Musch from Deutsche Bank to be its new global market head of central, Andean and southern (CAS) Latin America, a bank spokesman said on Wednesday, confirming what a source familiar with the matter had told Reuters.

Musch, head of LatAm booking centres for Switzerland and Germany at Deutsche Bank in Geneva, will join UBS on July 1 and will be based in Zurich.

He will report to UBS’s LatAm wealth management head Alejandro Velez, who was appointed to this role in March.

Musch’s hire comes as UBS looks to grow its LatAm business after rival Credit Suisse poached at least a dozen of its private bankers in Mexico and it faced client withdrawals due to tax amnesty programmes.

UBS declined to say whether anyone had left the bank as a result of Musch’s arrival.

A spokesman for Deutsche Bank in Zurich declined to comment. Musch did not immediately respond to a LinkedIn message requesting comment. (Editing by Susan Fenton)