Complete News World

Spain Office demoted – inside Paradeplatz

Spain Office demoted – inside Paradeplatz

Christine “Krystle” Novakovic has to work on reshaping UBS's entire European asset management business.

A few weeks ago, she held crucial positions. The people from Old UBS came almost exclusively to Kiss the Hand.

Now, for the first time, a former CS man has been given a central leadership role in Reich Kristl.

He loves art (C. Novakovich, left; UPS)

its name: Daniel Campo. His job: Deskhead Iberia HNW.

In other words, he and his team take care of “half” of the rich Spaniards from Zurich. Campo's direct supervisor takes care of the very wealthy, so-called Ultra High Net Worth Individuals, or UHNW for short.

Jose Perez. Like all of Novakovic's front-line managers in the European region, he grew up at UBS.

Recently, Perez was also given the job of president of WM Iberia International – on an interim basis – and given there are so many gaps in this important department, Perez is wearing two other hats.

On the one hand, the person holding the position of head of the HNW Spain office from Geneva, which he had already been at the head of, and also the “ai” head of the UHNW Iberia office in Zurich.

Lots of movement, lots of emergency measures.

'Cristal' is rebuilding – again (UBS; IP)

The main thing to talk about is former HNW president Iberia. Christel Novakovic or her husband has that for all of southern Europe, a certain something Mark Genova“punish”.

According to sources, he has been demoted from a desk official with corresponding administrative responsibility to a simple client advisor.

The accusation from the management of the race: massive outflows of clients.

Two rivals in particular poached many wealthy Spaniards and Portuguese from UBS: Rothschild and Fürstenbank LGT.

His demotion to simple advisor is linked to Novaković's punitive task of training his successor and the new head of the office.

There are now fears within the Spanish squad that the new arrival from Credit Suisse will bring his old 'comrades' home.

Not just former CS relationship managers, but also wealth planners. There will likely be “layoffs to the current UBS team,” one person said.