UBS has named Guy Phillips head of the corporate advisory group, which works with entrepreneurs and family-business owners, for Latin America, effective November 1.

Since 1998 Phillips has been head of global consumer products and retail investment banking. In his new position he will report to Gabriel Castello and Ricardo Gonzalez, co-heads of wealth management for Latin America.

In an internal announcement, Joe Stadler, global head of ultra high net worth, said UBS plans to "de-layer and decentralize" the management structure of the corporate advisory group, as well as to strengthen its regional alignment. 

The acting global head of CAG, Georg Bilo, will relinquish his position and "explore new opportunities within the bank," Stadler said.

In other related changes, Dorothee Deuring now reports to Eva Lindholm, head of UHNW (Europe), while LH Koh continues reporting to Amy Lo, head UHNW (Asia-Pacific). Deuring and Koh will also have a secondary reporting line into Phillips, in his additional capacity leveraging multi-regional opportunities, applying global standards and coordinating risk and conflicts across CAG regions where needed. In that role, Phillips will report to Stadler.