UBS Investment bank has re-organised its wealth management and investment products and services (IPS) divisions following the appointment of Alexander Kobler, former head of IPS, Asia-Pacific (APAC) as head of wealth management Turkey, Israel, Greece and Africa (TIGA) as of 1 September, according to a memo obtained by SRP.
Vito Schiro (pictured) will succeed Kobler as APAC head of IPS. Schiro joined UBS in 1993 and has held various managerial roles in the division's structured product and equities derivative offering, most recently as the global head advisory solutions within the IPS division.
According to the memo, signed by UBS' head of IPS, William Kennedy; UBS' chief executive of wealth management APAC, Kathy Shih; and the bank's head of wealth management global emerging markets (GEM), Paul Raphael, Schiro has been pivotal in building up the bank's IPS present franchise which makes him the ideal candidate to lead IPS in APAC's important growth market. Schiro will retain his current role as global head advisory solutions in IPS.
In his new role, Kobler succeeds Luca Pedrotti, who has been appointed new regional director and head of wealth management of the Swiss Region Ticino replacing Giovanni Crameri, who presently holds this role and will retire at the end of 2014.
Kobler has two decades of experience in various regional and global leadership roles. Kobler played an instrumental role in developing the main components of the bank's value chain while working closely with Swiss, European and Asian clients, in designing optimal investment solutions.
Kobler will report to Paul Raphael and work alongside Pedrotti during September and October on the handover.
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