Former UBS WM president joins Luxembourg private banking group
Luxembourg headquatered KBL European Private Bankers (KBL epb) has appointed Jürg Zeltner as a member of the Board of Directors and Group CEO, subject to approval of the European Central Bank and Luxembourg's Commission de Surveillance du Secteur Financier.
Zeltner, who will assume his new position following regulatory approval, will build on KBL epb's existing strengths and strategy to spearhead its accelerated growth.
Earlier president of UBS Wealth Management and member of the Group Executive Board, overseeing global activities representing more than €2trn in assets in under management, Zeltner will replace Peter Vandekerckhove, who is stepping down from the day-to-day rigors of his current position.
Vandekerckhove will remain a member of the Board of Directors of KBL epb, while also continuing to serve on the Board of Puilaetco Dewaay, the group's Belgian affiliate, and assuming other non-executive positions.
In parallel, Jakob Stott, who most recently served as vice-chairman of UBS Wealth Management, after having served as head of UBS Wealth Management, Europe, will join Zeltner at KBL epb as CEO, Wealth Management, and member of the Executive Committee, likewise subject to regulatory approval.
With the strong support of Precision Capital, KBL epb's shareholder, Zeltner and Stott will oversee major investments to unlock the enormous potential of this unique group of boutique private banks. Both will personally participate in the group's long-term success through significant co-investments.
Prior to leading UBS Wealth Management for nearly a decade, Zeltner served as head of UBS Wealth Management, North, East & Central Europe, after having held various management positions in the bank's Wealth Management division. Between 1987-1998, he served in a range of roles in the Private & Corporate Client division in Bern, New York and Zurich.
Stott, who, as head of UBS Wealth Management, Europe, was responsible for 3,000 staff in 45 offices spanning the continent, earlier held the position of chief operating officer, EMEA, at J.P. Morgan, having served at the New York-headquartered bank from 1982-2010.
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