UBS AG announced on August 13 that Jakob Stott has been named its Head UBS Wealth Management Europe.
"Jakob Stott, 55, assumes overall responsibility for UBS's onshore wealth management business in Europe on October 1. He will have leadership authority over more than 45 branch offices in Germany, UK, France, Monaco, Italy, Spain, Austria, Luxembourg, Belgium and the Netherlands, UBS informed.
CEO Wealth Management Jürg Zeltner said: "I want to welcome Jakob to UBS. He has an outstanding reputation as an inspiring and thoughtful leader. He will apply his long and wide-ranging client relationship and business experience to gaining market share and growing our European wealth management business. Under Jakob's leadership, I believe that the business will consolidate its position as the firm of choice for those clients seeking a fully integrated offering of diverse products and tailored advisory services.”
Jakob Stott said: "Coming to UBS represents a once-in-a-lifetime opportunity to join a leading global wealth manager. In my new role I will focus on strengthening the integrated business model in Europe to benefit our clients. The onshore European business offers enormous wealth management opportunities for UBS."
In his 28-year career, Jakob Stott has held numerous leadership positions at JP Morgan. Prior to his departure in June 2010, he was Chief Operating Officer for JP Morgan's Investment Bank in EMEA as well as Global Head of the Reputation Risk Office.