Ticino-domiciled private bank PKB welcomes former UBS manager Stefano Veri as a member of its board of directors effective November 1, according to a statment. At UBS, Veri spent more than five years in wealth management as a group managing director in charge of the business with external asset managers. In total, he spent four decades at UBS.

In addition to his board mandate at PKB, he now also sits on the board of directors of On finance, according to his Linkedin profile.

High-Caliber Hire

PKB adds a high-caliber personality to the supervisory board. As a member of several important board committees, Veri has actively shaped the development and transformation of wealth management at UBS Switzerland and abroad. He has in-depth knowledge of international capital markets and the global wealth management industry, it added.

That PKB successfully recruited Veri underlines PKB's attractiveness. «Stefano Veri brings solid wealth management experience and strengthens the board and the bank in implementing its long-term plans,» the bank said.

Early Retirement Announced

Veri announced his early retirement from UBS last summer, with Thomas Frauenlob, who previously led the super-rich clients (UHWNI) business in Switzerland, appointed as his successor.

PKB is family-owned, and in addition to its Lugano headquarters, has offices in Zurich, Geneva, and Bellinzona and has assets under management of around 13 billion Swiss francs.