UBS Wealth Management has appointed former president and chief executive officer of US Trust Co, Craig Walling, to head the business’ Privat...

UBS Wealth Management has appointed former president and chief executive officer of US Trust Co, Craig Walling, to head the business’ Private Bank unit in the US.

Mr Walling’s appointment is part of the group’s push to provide holistic wealth management services to ultra high net worth clients, according to a statement.

He will be responsible for expanding and enhancing UBS’ private banking offering in the US and reports to John Straus, head of Private Wealth Management for UBS Wealth Management US.

Mr Straus will assume the role and responsibilities of chairman, Private Bank, Wealth Management US.

Before his position at US Trust, where he was responsible for guiding the planning, investment, private banking and trust services teams that served high net worth clients globally, Mr Walling was president and chief executive office of Charles Schwab, Europe.