UBS has confirmed that Heinrich Baer, head of affluent and international markets wealth management, has been appointed as head of wealth management for Luxembourg.
UBS confirmed to Citywire Switzerland that Baer will take over the role from current Luxembourg head René Mottas on 1 October 2018. He will relocate to Luxembourg on 1 August 2018.
Baer will also become a member of the WM EMEA management committee and will act as country head for UBS Luxembourg. He will report directly to Christine Novakovic, head of wealth management for EMEA.
Mottas will be returning to Switzerland after almost seven years in the Benelux region. UBS said Mottas will 'look for other opportunities within UBS'.