ERA OVER: UBS strengthens regions;Regional heads of marketing gain more power in restructuring.(Brief Article)

Pensions & Investments, April, 2000 by Payne, Beatrix

CHICAGO -- UBS Asset Management has revamped its global marketing and client servicing operations, admitting the failure of the "Brinsonization" of the business following 1998's merger of UBS AG and Swiss Bank Corp. The new structure, put in place last October, gives more autonomy to regional marketing efforts.

Marketing to UBS clients -- excluding Britain, where London-based Phillips & Drew was dominant -- had been driven by Brinson Partners Inc., Chicago, after the 1998 merger, said Peter Wuffli, Chicago based chief executive of UBS Asset Management, a division of UBS AG, Zurich. He said he "cannot deny" that "part of the reasoning (for) strengthening the regions when I came on board" was the erosion of the client base following the centralization of UBS...

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