UBS has plans to restructure its wealth-management business, reported The Wall Street Journal, citing an internal memo.
UBS plans to focus more on affluent clients who fall below its ultra-wealthy threshold. According to the memo, UBS will organize its U.S. wealth business into six divisions, with a goal to improve its U.S. performance, reported Reuters.
“This new alignment will empower our field leaders through faster decision-making, enhanced responsiveness to client needs, and greater connectivity,” the memo said.
The changes will be beginning Jan. 1.
