UBS Revitalizes Global Wealth Management Division with Strategic Reshuffle

Swiss banking giant UBS is set to unveil a transformative change within its wealth management division, entrusting a former Credit Suisse executive with leading a newly established unit. This exciting development was revealed through an internal memo shared on Tuesday, jointly issued by the co-heads of Global Wealth Management (GWM), Iqbal Khan and Rob Karofsky. A spokesperson for the bank confirmed the organizational shift.

Introducing Global Connectivity

Beginning July 1, 2025, Benjamin Cavalli, who currently oversees Strategic Clients, will take charge of the newly formed unit titled “Strategic Clients and Global Connectivity.” This move not only positions Cavalli as a pivotal player in strengthening client relations but also ensures he continues to report directly to Khan and Karofsky as a key member of the GWM Management Team. Additionally, he will maintain oversight over the GWM Executive Chairs and the Global Financial Sponsors Team.

His mandate is clear: to elevate global connectivity for every client, fostering collaboration across various business areas and functions—a mission that echoes the bank’s commitment to client-centric services.

A Familiar Face from APAC

Prior to the merger of Credit Suisse with UBS, Cavalli held the prestigious role of Asia-Pacific head of private banking at his former employer. His extensive experience from this vantage point is anticipated to drive growth and innovation in UBS’s offerings.

Strengthening Client Services

In conjunction with these changes, the UHNW Solutions Group, which now resides under Strategic Clients, will transition to GWM Solutions. Notably, the Strategic Client Coverage and Next Generation Solutions teams will be incorporated into Cavalli’s new unit, integrating their expertise to enhance service delivery.

With this reshuffle, UBS aims to bolster its ultra-high-net-worth offerings and promote improved regional collaboration, ultimately benefiting its clientele. More specifics on the transition are expected to be announced soon, leaving many optimistic about what’s to come.