After Credit Suisse's takeover by UBS, banks like BNP Paribas (BNPQY), Deutsche Bank (DB), Citi (C) and BofA (BAC) target Switzerland for business expansion.
UBS has strengthened its wealth management team in the Middle East with 10 new hires, it said on Tuesday, as the Swiss bank moves to tap into the influx of expatriates and growing population of rich individuals in the region. UBS said in a statement it was updating its regional organization while bolstering teams on the ground with six people joining from HSBC and four from Deutsche Bank. Western wealth managers have been ramping up their presence in the region to service an increasingly diverse investor pool of wealthy clients, lured by its relatively neutral political stance, ease of doing business, convenient time zones, and tax free status.
HARTFORD, Conn., June 24, 2024--UBS Wealth Management USA today announced that Ryann Kilgore has been appointed Market Executive for the firm’s Greater New England Wealth Management Market. Ryann brings nearly 20 years of wealth management experience to the role. She will be based in the Hartford, Connecticut office, and will oversee the firm’s financial advisors and market leadership in New York State, Coastal New England, Northern New England and Western Pennsylvania. Ryann’s primary responsib