According to a staff memo that was confirmed by the UBS Group, the Swiss bank is in the process of reorganizing its flagship wealth management business in the Europe, Middle East and Africa region.
Christl Novakovic will continue to lead its European business.
Caroline Kuhnert has been appointed as its chief in Central and Eastern Europe.
Ali Janoudi will lead its Middle East and Africa business.
These development marks the first big changes since former Credit Suisse executive Iqbal Khan joined UBS as co-head of wealth management in 2019.