Former UBS exec joins Commerce Capital Markets

FWR Staff

20 November 2005

Private-client veteran Sieben to help grow regional’s wealth business. Ex-UBS executive Marc Sieben has joined Commerce Capital Markets, a subsidiary of Cherry Hill, N.J.-based Commerce Bancorp. As head of brokerage and wealth management, Sieben will oversee the build-out of Commerce's brokerage and wealth-management platforms and help develop new products and services for markets within the Bank's geographic footprint.

Commerce Capital’s sister company Commerce Bank has about 350 branches in New Jersey, Pennsylvania, New York, Delaware, Washington, D.C. and Virginia, and it plans to move into Maryland and Florida’s southeast in 2006.

Goes back

“Marc's addition clearly reflects Commerce Capital's focus on building a team of talented senior executives who will be responsible for developing and carrying out the strategies needed to keep pace with Commerce Bank's rapid growth,” says Commerce Capital’s president and CEO Stan Gregor. “Brokerage and wealth management services are ideal complements to Commerce's existing product line, and we intend to work aggressively to capitalize on the significant growth potential in these areas.”

Sieben, a 25-year veteran of the financial-service industry, was head of strategic development at UBS Financial Services, the Swiss bank’s U.S. wealth-management business.

Before that, he was a regional director, branch manager, and financial advisor with Smith Barney, Citigroup’s broker-dealer and a pioneering firm in brokerage-based wealth management. He also helped introduce new wealth-management and consulting processes as a regional director with Bank of America Investments.

“Marc has proven to be a successful innovator and is well known for his dynamic leadership and motivational talents,” says Gregor. –FWR