UBS has confirmed that Michael Weisberg, head of products and services within its Wealth Management Americas division, is to leave the bank.

Mr Weisberg has taken an indefinite leave of absence due to personal rather than performance-related issues, the firm said.

Prior to his current role, Mr Weisberg had been global head of products and services within the bank’s global wealth management division.

Taking over Mr Weisberg’s responsibilities is James Hausmann, a specialist in fixed-income. Mr Hausmann has headed transaction products in the Swiss bank’s Americas wealth management group since 2005; he joined Paine Webber – the wealth management unit bought by UBS in 2000 - in 2001.

News emerged earlier this week of UBS splitting its Wealth Management & Swiss Bank division into Swiss and international arms – its second restructure this year. Juerg Zeltner was named head of the international wealth management business, while Franco Morra will head UBS Switzerland.

Wealth Management Americas, lead by Marten Hoekstra, remains unchanged.

UBS reorganised its wealth management divisions into two elements, Wealth Management & Swiss Bank, and Wealth Management Americas in February of this year. At that time, Messrs Zeltner and Morra were appointed to co-head Wealth Management & Swiss Bank.

In other recent developments, Oswald Gruebel, UBS’s chief executive is reported to have told CNBC that the Swiss bank wants to retain its US retail brokerage business, UBS Financial, for at least three years.

While rumours about an impending sale of UBS's retail brokerage business have been circulating in the press for some time, the bank has said the unit isn’t in fact on the block.