Tom Naratil became chief financial officer in June, replacing John Cryan, after serving as CFO and chief risk officer of UBS's wealth management Americas unit. Maureen Miskovic, a former risk officer at Boston-based State Street Corp. and Lehman Brothers Holdings Inc. of New York, took over as group chief risk officer in January.
"It's hard for anyone to make it in investment banking at the moment," said Matthew Clark, a London-based analyst at Keefe, Bruyette & Woods Ltd. "The question is in execution. The ingredients are all there, but the manager that was entrusted to deliver that story is no longer there, so we really need to see how the new guy does."