UBS has restructured its global asset management and wealth management businesses in Canada and brought the two operations under one leader, The Wall Street Journal reports. The combined asset-management division will be led by Marcel Larochelle, who will become CEO of UBS Bank Canada.
He will also retain his current position as CEO of UBS Global Asset Management Canada. Grant Rasmussen, who had headed UBS Wealth Management Canada, and Sam Sivarajan, head of national sales in Canada in the wealth management unit, have left the firm as part of the restructuring.
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