Wuffli out, Rohner in at UBS

UBS picked deputy group CEO Marcel Rohner to helm the company, replacing Peter A. Wuffli.
JUL 06, 2007
By  Bloomberg
UBS yesterday selected deputy group CEO Marcel Rohner to helm the company, replacing Peter A. Wuffli. The sudden shake-up arrives on the heels of stumbling stock prices, the failure Dillon Read Capital Management, the bank’s hedge fund group, and departures from the investment bank division, including that of president Ken Moelis. Mr. Wuffli lead the Swiss bank for four years. His successor, Mr. Rohner, has led the global wealth management and business banking division as chairman and CEO. Raoul Weil, head of wealth management international, will take the reins from Mr. Rohner. A consultant told Reuters that Mr. Wuffli probably left after realizing he wasn’t in line for chairman. Before Mr. Wuffli left, chairman Marcel Ospel had given him the nod to become his successor, but the board vetoed the proposal.

Latest News

RIA moves: The Mather Group, Brand Asset Management announce deals
RIA moves: The Mather Group, Brand Asset Management announce deals

Consolidation continues in US wealth management industry.

US broker-dealer fintech aims for global footprint as it acquires international firm
US broker-dealer fintech aims for global footprint as it acquires international firm

Tech company democratizes access to US trading infrastructure.

Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel
Advisor moves: RBC swipes $1.7B UBS team, Baird duo departs for LPL's Linsco channel

RBC Wealth Management's latest move in New York adds an elite eight-member team to its recently opened Westchester office.

Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints
Stifel star broker, Chuck Roberts, leaves firm under cloud of investor complaints

Stifel – so far - is on the hook for more than $166 million in damages, legal fees and settlements in investor complaints involving Roberts, a 35-year industry veteran.

iCapital secures $820M in latest funding, hits $7.5B
iCapital secures $820M in latest funding, hits $7.5B

The giant alt investments platform's latest financing led by T. Rowe Price and SurgoCap Partners, along with State Street, UBS, and BNY, will fuel additional growth on multiple fronts.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.