UBS Considers US Acquisitions and Names Rick Penafiel for South Florida
UBS•UBS CEO Sergio Ermotti said the bank is considering US acquisitions to accelerate growth in North American markets. UBS also appointed Rick Penafiel as South Florida market executive to spearhead regional client development.
1. CEO Highlights US Acquisition Strategy
UBS Chief Executive Sergio Ermotti said the bank views acquisitions in the United States as a strategic lever to accelerate expansion of its wealth management and investment banking services. He emphasized exploring deals in North America to diversify revenue streams and gain scale in key markets.
2. Appointment of South Florida Market Executive
UBS has appointed Rick Penafiel as market executive for South Florida, assigning him to oversee client relationships and business development across the Miami metropolitan area. Penafiel will lead regional teams to boost ultrahigh-net-worth and institutional client engagement in a market with robust wealth growth.
