UBS Wealth Management Americas has announced some big changes in its structure and leadership, as new chief Bob McCann, and his team of former colleagues from Merrill Lynch push ahead with their mission to “renew” the struggling division.
In an internal memo, Bob Mullholland, who was named as head of the UBS [UBS] advisor force less than three weeks ago, announced that the firm will go from having three regions in the U.S. down to just two “divisions”. The Eastern division will be headed by David McWilliams and the Western division will be headed by Michael Schweitzer. McWilliams worked at Merrill Lynch [BAC] for 30 years before joining UBS last year. Schweitzer joined UBS in 2003 after 15 years at Merrill Lynch.
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