In line with its
target to grow client assets from emerging markets, Swiss private
bank UBS has announced the appointment of a new vice chairman for
its wealth management business in emerging markets.
The Swiss private
bank has hired Barclays Wealth’s vice chairman Gerard Aquilina.
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Aquilina is expected
to commence his new position in mid-May and will be based in
Zurich, reporting to Paul Raphael, head of global emerging markets
at UBS’s wealth management unit.
In September, the head of banking
products, Americas at UBS, David Lewis, moved to Barclays Wealth as
managing director and head of banking, Americas.
UBS continued its strong recovery in the first
quarter recording a 2% gain from its 2010 year-end results in
invested assets to CHF1.49trn ($1.7trn).
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