UBS appoints CEO for Wealth Management Americas

UBS said on Tuesday it had appointed Robert McCann as chief executive of UBS Wealth Management Americas and member of the group's executive board. McCann, who held several executive positions in a 26-year career with Merrill Lynch, will lead nearly 8,000 financial advisors across the U.S., Puerto Rico and Canada, managing 695 billion Swiss francs ($691.5 billion) in invested assets. "In the Americas alone, the wealth management market opportunity represents high net worth assets in excess of $20 trillion," said Oslwald Gruebel, Chief Executive of UBS Group.

"Under Bob's leadership, I believe that the business will now consolidate its position as the firm of choice for those clients seeking a fully integrated offering of diverse products and tailored advisory services," Gruebel said.