UBS names wealth man as operating boss

City A.M. Reporter
UBS has named private banker Andre Cronje as the chief operating officer of its investment bank.

“Andre’s experience from investment banking, wealth management and corporate centre, as well as his international perspective, is a major asset as we seek to reposition ourselves,” UBS said in a memo. Cronje replaces Sam Molinaro, an ex-Bear Stearns financial chief. Cronje has been head of UBS’s private bank in the UK and Jersey since 2008.