UBS chief picks former Merrill vet to lead adviser group
Robert McCann, chief executive of UBS AG's Wealth Management Americas, last week announced that he is moving several members of his executive team into critical positions.
Robert McCann, chief executive of UBS AG’s Wealth Management Americas, last week announced that he is moving several members of his executive team into critical positions — including Bob Mulholland, a 25-year Merrill veteran, who will replace Jamie Price as head of UBS’ adviser group.
Mr. McCann, the former head of the brokerage business at Merrill Lynch & Co. Inc., who recently joined UBS, wrote in a memorandum that the former Merrill executives he brought on board will help turn around the brokerage business at UBS.
Mr. Price, who has led the UBS Wealth Management Advisor Group, will remain with UBS for a time in an advisory capacity as he considers “new career opportunities,” Mr. McCann wrote in the memo.
“I am extremely grateful to Jamie for his advice and counsel since I joined the firm,” Mr. McCann wrote.
Mr. Mulholland, who worked with Mr. McCann at Merrill, will be responsible for UBS’ advisory strategy and will lead UBS’ team of financial advisers, Mr. McCann wrote.
Brian Hull, also a former colleague of Mr. McCann’s at Merrill, is leading a new effort as head of wealth management partnerships.
That role involves “managing the delivery of solutions to [UBS’ financial advisers] and managing key client and partner relationships,” Mr. McCann wrote.
“Brian will ensure we deliver the right resources to the right [advisers] for the right clients. He will also develop a range of strategic relationships for Wealth Management Americas, partnering with the Investment Bank and Global Asset Management, as well as third-party investment managers,” Mr. McCann wrote.
John Brown was also given a brand-new job, head of wealth management solutions.
He will be responsible for product platform development and strategy.
Mr. McCann also appointed David Satler as his chief of staff, in addition to his current role as head of human resources, and Paula Polito as chief marketing officer, a newly created role.
Mr. McCann formed his “renewal team” in November in an effort to restore profitability and improve strategy at Wealth Management Americas.
E-mail Hilary Johnson at [email protected].
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