UBP hire underscores new model

Swiss Private bank Union Bancaire Privee has appointed Eftychia Fischer as director general of the bank’s treasury and trading unit as UBP tries to transform it into a major profit centre. Fischer will be responsible for leading and managing treasury operations, and for asset and currency trading, the bank said yesterday. The appointment is part of the bank’s roll-out of a new business model with business activities separated into four main divisions: private banking, asset management, treasury and operations.