UBS Reshapes U.S. Wealth Management With New Ultra-High Net Worth Plus Segment

UBS Group AG has announced organizational changes within its U.S. wealth management unit as part of its strategy to boost profitability in a key market for its growth ambitions.

According to an internal memo from U.S. Country President Rob Karofsky and Michael Camacho, head of U.S. wealth management, the firm is restructuring its wealth advisers from two divisions into four regional units. Additionally, UBS is establishing a dedicated team to cater to international clients and creating an advice center to enhance service delivery.

UBS is also pursuing a broader banking license in the U.S., aligning with Chief Executive Officer Sergio Ermotti’s focus on expanding the bank’s presence in the region. Beyond integrating Credit Suisse into its operations, UBS aims to leverage its strengthened U.S. investment bank to attract entrepreneurs and high-net-worth individuals to its private banking services.

The company has revealed plans to enhance offerings for its wealthiest clients. This includes the creation of a new Ultra-High Net Worth Plus segment, tailored for individuals with assets exceeding $50 million, reflecting UBS’s commitment to addressing the specific needs of its most affluent clientele.

With these strategic adjustments, UBS is positioning itself to capitalize on opportunities in the competitive U.S. market while meeting the evolving demands of its global client base.

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