Christine Novakovic is taking her leave from the head job at UBS Europe to focus on an expanded role in wealth management. Her successor has earned his spurs in the bank s German business.
UBS Europa was again in good form last year thanks to boss Christine Novakovic. However, equity market volatility and investor uncertainty are now posing challenges for the Frankfurt-based institution.
(Bloomberg) A clutch of ex-UBS Group AG bankers had their punishments cut on appeal as a Paris court slashed the penalty the Swiss bank had to pay for helping wealthy French citizens hide their money.