There is a difference between high-net-worth clients and the ultra-wealthy: The ultra-wealthy require such specialized services that UBS Private Wealth Management has a group of 200 advisors trained to handle their needs and the firm promoted Frank Minerva to chief operating officer to manage the advisors who work with this niche.
Minerva has worked at UBS for 21 years, dating back to when he started at UBS-PaineWebber as a corporate vice president. He made headlines in 2006, when he opened the first of the Swiss bank’s private wealth management offices in New York City. After that, he spearheaded expansion nationally, opening offices in Atlanta, Boston, Chicago, Houston, Los Angeles, San Francisco, Stamford, Conn., and Washington, D.C., according to Kris Kagel, a spokesman for UBS.
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