Former private wealth management boss Straus exiting UBS
John Straus, the former head of private wealth management at UBS AG, has decided to leave the firm to pursue “entrepreneurial opportunities,” according to an internal memo from UBS.
John Straus, the former head of private wealth management at UBS AG, has decided to leave the firm to pursue “entrepreneurial opportunities,” according to an internal memo from UBS.
Reuters reported the move earlier today, and UBS confirmed and provided the memo to Investment News. The memo does not give a date for Mr. Straus’s departure.
Since February of this year, Mr. Straus had been head of strategic client relationships, which was a new position, reporting to Brian Hull, head of wealth management partnerships. Jason Chandler had replaced Mr. Straus as head of private wealth management in February.
“In his four years with UBS, John has provided strong leadership and dedication to help build our Private Wealth Management business and become a market leader in this important segment,” Mr. Hull wrote in the memo. “On behalf of the firm, I would like to thank John for his partnership and commitment and wish him success in all of his future endeavors.”
Before he came to UBS in 2006, Mr. Straus was head of U.S. private banks at J.P. Morgan Chase & Co.
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