January 7, 2020 / 7:18 AM / 19 days ago

UBS overhauls European wealth management business - memo

ZURICH, Jan 7 (Reuters) - UBS Group is reorganising its flagship wealth management business in the Europe, Middle East and Africa region, according to a staff memo seen by Reuters and confirmed by the Swiss bank.

Christl Novakovic will continue to lead its European business. Caroline Kuhnert was appointed head of Central and Eastern Europe and Ali Janoudi head of the Middle East and Africa, the memo said. It marks the first big change since former Credit Suisse executive Iqbal Khan joined UBS as co-head of wealth management last year. (Reporting by Oliver Hirt, Editing by Michael Shields and Louise Heavens)

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