A prominent Indian-American finance executive, Naureen Hassan, has been appointed President of UBS Americas and CEO of UBS Americas Holding, according to the Switzerland-based financial giant.
Currently, Hassan is the first vice president and chief operating officer of the Federal Reserve Bank of New York (FRBNY). She will also be serving on UBS Group’s Executive Board, according to a press release by UBS Americas.
Hassan will join in the leadership role in October this year and will succeed Tom Naratil, the Zurich and Basel-headquartered company said in a press release.
UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland.
Co-headquartered in the cities of Zurich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
She will become a member of UBS’s Group Executive Board in October 2022.
Hassan this week stepped down from her role as the First Vice- President and Chief Operating Officer at The Federal Reserve Bank of New York, where she was the New York Fed’s second-ranking officer.
UBS said in a statement that in her new role, Hassan will be responsible for driving client relationships, promoting cross-business collaboration, navigating the evolving public policy landscape, and ensuring sound regulatory and reputational risk governance.
In addition, she will lead the firm’s strategic growth and digital initiatives in the Americas region, including the transformation of the firm’s Wealth Management Americas Platform, expansion of digitally customised banking services, implementation of the Wealthfront acquisition upon closure, and the rollout of UBS Circle One in the region.
Prior to joining the FRBNY, Hassan was the chief digital officer for Morgan Stanley Wealth Management where she was responsible for the business’s digital transformation.
Before Morgan Stanley, she was the executive vice president leading Investor Services strategy, segments and platforms at Charles Schwab Corporation and a member of the firm’s Executive Committee.
She also held various business transformation, strategy, and client experience, leadership roles at Charles Schwab Corporation. She began her career at McKinsey & Company.
Group Chief Executive Officer Ralph Hamers said he is delighted to welcome Hassan to UBS as President of UBS Americas.
In a statement announcing her departure from The Federal Reserve Bank of New York, Hassan said: I have been so impressed with the incredible commitment of New York Fed employees and the great work that they do. It has been a privilege for me to have served alongside such dedicated public servants and to have contributed to the Bank’s mission.
Hassan, whose parents had immigrated from India, is a 25-year veteran of the financial services industry with expertise in strategy, digital transformation, cybersecurity and regulatory/risk management.
She holds a BA from Princeton University and a Master of Business Administration from the Stanford University Graduate School of Business.