Swiss bank UBS is hiring former ING executive Eli Leenaars a vice-chairman of its flagship private bank, in a bid to win new clients among the ultra wealthy.
"Eli has built up a substantial and worldwide network of contacts right across the industry which he is keen to leverage for UBS," UBS private bank head Juerg Zeltner wrote in a memo to staff on Wednesday and seen by Reuters.
Leenaars joins four other private bank vice-chairmen including prominent former Unicredit banker Edoardo Spezzotti and Juerg Haller, previously head of UBS' offshore business in Europe.
UBS said Leenaars had a track record of financial advice for complex and sophisticated client requirements and experience with digital channels.
A three-year drive at UBS is aimed at focusing more strongly on the wealth unit while cutting its investment bank and abandoning riskier activities such as bond trading.