Recently, UBS took an important step in the US toward obtaining a national banking license. The US unit has also made progress in other areas, such as simplifying its operating model. However, these efforts have not recently been reflected in the numbers. Within Global Wealth Management, the Americas region recorded net outflows.

Now, the leadership structure in the US is being reorganized. Effective March 1, Lisa Golia will assume the role of Head of the Field and report to Mike Camacho, as Rob Karofsky, Co-President Global Wealth Management and President UBS Americas, wrote in an internal memo seen by finews.

New Head of the Field

Golia will take overall responsibility for all field-related activities, including leadership, recruitment, retention and compensation. She brings more than 30 years of experience to the role. Over the past two years, she has served as Chief Operating Officer of GWM US at UBS; prior to that, she worked at Morgan Stanley.

Golia’s appointment means that the Regional Directors — Chris DiMuria, Julie Fox, Rick Gonzalez, Lauren Gorsche and Jon Ramey — will report to her going forward. The aim is to achieve faster results and sustainable improvements in the business.