UBS Reshuffles Global Wealth Management Division
Swiss banking giant UBS is creating a new unit within its wealth-management division. A former Credit Suisse executive will take the helm.
According to an internal memo on Tuesday and signed by the Global Wealth Management (GWM) co-heads, Iqbal Khan and Rob Karofsky, UBS is making several organisational adjustments. A spokeswoman confirmed the reshuffle.
Benjamin Cavalli, currently Head of Strategic Clients, will on 1 July 2025 assume leadership of the newly formed unit «Strategic Clients and Global Connectivity.»
Global Connectivity
He will continue to report to the two divisional heads and remain a member of the GWM Management Team. The GWM Executive Chairs and the Global Financial Sponsors Team will also keep reporting to him.
His mandate within the GWM Management Team is to enhance global connectivity for every client who can benefit from it, working closely with other business areas and functions, the bank announced.
Former APAC Executive
Before Credit Suisse was taken over by UBS, Cavalli served as Asia-Pacific head of the Swiss rival’s private-banking business.
As part of the reorganisation, the UHNW Solutions Group, currently housed within Strategic Clients, will move to GWM Solutions. The only exceptions are the Strategic Client Coverage and Next Generation Solutions teams, which will become part of Cavalli’s new unit.
Improving Regional Collaboration
UBS expects the reshuffle to strengthen its UHNW offerings and improve regional collaboration to the benefit of clients. Further details will follow in due course.
