The first two affected by the integration of UBS’s private banking business into Singular Bank could be Pablo Diaz, country head of UBS Europe SE, Branch in Spain, and Ferdinand Fernandez, CEO of the UBS Wealth Management branch. According to what EL ESPAÑOL-Invertia has learned from financial sources, these two bankers would receive three million euros each, approximately, as compensation for his future departure.
The operation with the private bank that he directs Javier Marin The pertinent regulatory authorizations are pending, and the transaction is expected to be completed in the third quarter of 2022.
In total, around six million euros would be paid if, as everything seems to indicate and is usual in these integration processes, the exit agreed with the two bankers is carried out.
a long run
Díaz accepted his first position of responsibility in 1987. He spent six years at Banco Santander de Negocios, then five at Warburg Dillon Read Securities and, in 1998, jumped to the Swiss bank, which has seen him climb positions until today. At UBS, he was first Head of Products and Services and President of the Asset Management division, and in 2009 it was he who was appointed President of the bank.
For his part, Fernández has always been linked to the human resources department, first at Johnson & Johnson EMEA (1984-1989) and, later, at Banco Santander de Negocios (1989-1999). His debut at UBS took place in 1999, as General Manager and Head of Human Resources.