UBS has appointed Naureen Hassan as president of Americas and chief executive of UBS Americas Holding, succeeding Tom Naratil who has decided to step down.
Following a 39-year career at UBS and its predecessor PaineWebber, Naratil will step down from his current roles as president of UBS Americas and co-president of global wealth management, effective from 3 October.
Naratil has operated on the UBS Group executive board for the past 11 years in a variety of roles including as group chief financial officer and group chief operating officer.
Hassan will replace Naratil as president of UBS Americas, chief executive of UBS Americas Holding and member of the firm’s group executive board upon his departure. She joins from the Federal Reserve Bank of New York (FRBNY) where she served as the first vice president and chief operating officer.
Before joining FRBNY, she was the chief digital officer for Morgan Stanley Wealth Management and held a variety of leadership roles at Charles Schwab.
“Naratil has been a champion of our strategy and transformation and a vocal advocate of our diversity initiatives. I wish him all the best in his future endeavours,” said Ralph Hamers, group chief executive officer.
“Our global wealth management business and our Americas region are strategically important, and both offer significant growth opportunities for us. I am confident that Naureen will build upon Tom’s success and continue to deliver for our clients and achieve our strategic ambitions.”
Naratil’s departure from UBS follows that of long-term employees Jean-Philippe Minet and Chris McConville, who served as chief architect of UBS’ UK-regulated dark multilateral trading facility (MTF) and global head of platform licensing, respectively.