Christl Novakovic, Head of UBS Wealth Management EMEA, will relocate from Zurich to the Middle East this summer. This was announced in an internal memo by Iqbal Khan (Co-President Global Wealth Management) and Beatriz Martin Jimenez (COO and EMEA President), seen by finews.

Bloomberg was the first to report the news.

In addition, Niels Zilkens, Head of Wealth Management for the Middle East, will relocate to Doha in the Emirate of Qatar. «The Middle East plays a central role in our growth ambitions and offers significant long-term opportunities both for our firm and for our clients,» the memo states.

New Structure

In a separate memo, Novakovic announced changes to the organisation. From 1 June, the bank’s wealth management business in the EMEA region will be organised into five sectors. The new structure is intended to better support teams in the Middle East in their growth efforts.

The executive emphasised that she has long believed in the Middle East’s growth potential and is very much looking forward to moving to the region.

According to the memo, the leadership positions for the five divisions within the EMEA organisation will be assigned as follows:

• Toby Vogel will lead WM Europe Domestic, SE, Monaco, Spain & Portugal, UK, Jersey & Guernsey. Vogel will also continue in his role as CEO of UBS Europe SE.
• Carl von Wrede will head GFIW EMEA (Global Family Office and Institutional Wealth Solutions), covering both International and Europe Domestic.
• Gianluca Gera will newly lead the combined WM Europe International division, bringing together the Northern and Southern regions.
• WM Eastern Europe, Israel, Africa & Overseas will be headed by Katya Lehmann.

Niels Zilkens’ responsibilities as Head of the Middle East will remain unchanged.