Raoul Weil, UBS' new wealth chief, has put his stamp on the business by overhauling its management outside Switzerland and reducing its geographic heads from seven to four.

In the Americas, the US, Latin American and offshore businesses will be brought together under the leadership of Marten Hoekstra, previously in charge of just the US. Martin Liechti will continue as head of Americas International, which comprises Latin America and offshore, but will now report to Hoekstra.