UBS PaineWebber announced several management appointments last week.
Mark Sutton, head of the firm's U.S. Private Client Group, was named president and COO of UBS PaineWebber. The promotion is not to replace anyone, but is in recognition of Sutton's past work and additional responsibilities with the firm, according to a spokesman. In addition to keeping his responsibilities involving the U.S. Private Client Group, he will assume responsibility for Correspondent Services Corp., a UBS subsidiary that provides clearance and settlement services.
Robert Silver was named president of UBS PaineWebber Services and chief credit officer for UBS PaineWebber. Silver will continue to oversee operations for the U.S. Private Client Group as well as the firm's Corporate Employee Financial Services business. As president of UBS PaineWebber Services, Silver will be responsible for finance, credit, human resource and corporate services for the firm.
Those duties formerly belonged to Regina Dolan, who is joining UBS Warburg's management committee as global head of strategic planning and business development. At UBS Warburg, Dolan will be charged with helping to grow the business portfolio and to enhance the firm's execution across existing operating units. She will report to John Costas, UBS Warburg's CEO.
Further, Luzius Cameron was named director of strategic planning and new business development for UBS PaineWebber. Cameron will join the firm in the newly created position on June 1. He was previously head of the UBS Group strategic analysis team.
"These appointments reflect the momentum in our business that has been significantly enhanced by the synergy between UBS PaineWebber and UBS Warburg," said Joseph Grano, Jr., CEO of UBS PaineWebber, in a statement. "Going forward we would expect to realize even greater benefits from the merger with UBS as we provide our individual and institutional clients with the global resources of UBS."