UBS hires JP Morgan's Broderick to replace Cronje as UK wealth CEO

UBS has named JP Morgan's James Broderick as wealth chief executive for UK and Jersey.

He replaces Andre Cronje, who has decided to seek a new role within the Swiss bank after four years at the helm of the wealth management division.

At JP Morgan, Broderick (pictured) was responsible for the firm's asset management business in Europe, the Middle East and Africa and CEO of its principal affiliates. He had been at JP Morgan since 1993.

Broderick will be based in London and report to UBS CEO of Wealth Management Europe Jakob Stott.

Commenting on the appointment Stott said in a statement: 'We are delighted that Jamie has joined UBS. Jamie brings with him a distinctive track record of building a leading business franchise in a competitive, multi-jurisdictional marketplace and managing the challenges of difficult markets and a complex regulatory environment. His responsibilities have embraced multiple functions within asset management, and his focus has always been on the client-facing functions and the client experience.

He added: 'I would like to thank Andre very much for his tremendous dedication and great contribution to developing UBS Wealth Management UK & Jersey over the last few years.'