UBS is boosting its offerings to ultra-rich clients by creating a new unit, GWM Solutions, to integrate various client offerings, such as investment management, lending, family and institutional wealth management and alternative investments, reported Noele Illien and Oliver Hirt for Reuters.
Former Credit Suisse banker Yves-Alain Sommerhalder will lead the unit and will be based in Zurich.
The bank is also creating Unified Global Alternatives in an effort to shift some alternative asset-management offerings closer to the bank’s wealth arm.
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