UBS Appoints New CEO For Wealth Management Americas

Published: 27-Oct-2009

The new CEO to lead nearly 8,000 financial advisors in more than 320 branches across the US, Puerto Rico and Canada

UBS has appointed Robert McCann as chief executive officer of wealth management Americas and member of the group executive board of UBS AG. He will immediately assume responsibility for the firm’s domestic wealth management businesses in the US and Canada, including all international business booked in the US. He will lead nearly 8,000 financial advisors in more than 320 branches across the US, Puerto Rico and Canada, managing CHF695 billion in invested assets.

Over a 26-year career at Merrill Lynch, Mr McCann held a variety of executive leadership positions throughout the firm. Prior to his departure in January 2009, Mr McCann was president of global wealth management. He was also vice chairman of the firm’s wealth management group, head of global securities research, COO of global markets and investment banking, head of global institutional sales and head of global equity trading and markets.

Oswald Gruebel, CEO of UBS, said: “Bob McCann comes to us having led one of the largest wealth management advisory teams in the world. I am confident that his proven ability to meet client needs, manage businesses and develop financial advisors will drive UBS Wealth Management Americas to a higher level of performance and return for all stakeholders.”

Mr McCann said: “Coming to UBS is a once-in-a-lifetime opportunity to join a leading global wealth manager. It is a firm that I always considered to be a tough competitor and I will add my energy and ideas to the turnaround underway. The domestic Americas business represents an enormous wealth management opportunity for UBS. I see tremendous long-term potential growth for clients, employees and shareholders."

Tell your friend about this article