Stott will lead UBS’ more than 45 branch offices in Germany, UK, France, Monaco, Italy, Spain, Austria, Luxembourg, Belgium and the Netherlands.

Scott, with 28 years of experience, will join UBS from JP Morgan where he held number of management positions.

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Prior to his departure in June 2010, he was chief operating officer for JP Morgan’s investment bank in EMEA as well as global head of the reputation risk office.

UBS Wealth Management CEO Jurg Zeltner said that Jakob has an outstanding reputation as an inspiring and thoughtful leader.

He will apply his long and wide-ranging client relationship and business experience to gaining market share and growing our European wealth management business.

“Under Jakob’s leadership, I believe that the business will consolidate its position as the firm of choice for those clients seeking a fully integrated offering of diverse products and tailored advisory services,” Zeltner said.