UBS Wealth Management has promoted John Mathews to head its Private Wealth Management division as it sharpens focus on its fast-growing ultrahigh-net-worth segment.

The firm is bisecting the role previously held by Jason Chandler, who was also head of the Wealth Management Advisor Group. Mathews will now directly oversee the 342 advisors in the private wealth segment who work exclusively with clients with more than $25 million in assets. He will work alongside Chandler in the firm’s office in midtown Manhattan.

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