Two members of UBS's Wealth Management Americas' executive committee have stepped down, while Robert McCann, the bank's most senior executive in the United States, is among six officials whose titles have changed from chief executive to president.
Reuters reports that John J. Brown, 56, who ran the middle-market banking unit that sells investment banking services to wealth management clients for their businesses, retired this week, a UBS spokesman said on Wednesday.
Brown joined UBS in 2009, soon after McCann took the helm of the then money-losing brokerage business formerly known as PaineWebber.
Dan Cochran, 68, who joined in 2010 to coordinate McCann's duties in the United States with his responsibilities in Zurich, retired as chief of staff at the end of February, the spokesman said.
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