💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

UBS entices Credit Suisse exec to wealth mgmt arm

Published 09/24/2010, 04:51 AM
Updated 09/24/2010, 04:52 AM

* Wiesendanger hops over to UBS WM from rival C. Suisse * To report to ex-CS vet Gaehwiler, now UBS Swiss CEO

ZURICH, Sept 24 (Reuters) - Swiss bank UBS has hired former Credit Suisse executive Christian Wiesendanger to head wealth management Switzerland, the latest in a series of UBS hires from its cross-town rival as the struggle for Swiss banking supremacy rages.

Wiesendanger, who has been at Credit Suisse since 2001 and was most recently head of wealth management for Latin America, will take up his position at the beginning of October.

UBS, the world's second biggest wealth manager in terms of assets, said Wiesendanger would replace veteran banker Stefan Bodmer and would report to Lukas Gaehwiler, recently appointed as CEO of UBS Switzerland.

Wiesendanger joins a number of ex-Credit Suisse executives, including Gaehwiler, who have crossed to UBS since Oswald Gruebel was lured out of retirement to join the bank as chief executive in early 2009.

Gruebel spent the bulk of his career at Credit Suisse, and stood down from the top executive role in 2007.

One of his most important hiring coups was when he brought Gaehwiler, a 20-year veteran of Credit Suisse, to head UBS's Swiss business.

In the continuing battle for top talent Anthony Iliya recently left Credit Suisse to join UBS as chief executive for Middle East and North Africa, while Ann Luke took the opposite direction, joining Credit Suisse's private banking division from UBS Wealth Management. (Editing by Jon Loades-Carter)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.