UBS Wealth Exec Moves to Deutsche Bank

Deutsche Bank Wealth Management has hired an executive from UBS Global Wealth Management to lead Global Products and Solutions for the Americas.

Samuel Descovich, who used to be in charge of Capital Market Solutions for the Americas at UBS, now will focus on alternative investments, capital markets, trust and custody services, and related areas. He will be based in New York.

He also will support Wealth Advisory, a fee-based and tailored advisory product in the Americas that lets investor clients “play an active role in managing their investment accounts with Deutsche Bank Wealth Management as a fiduciary partner,” the firm says.

“Sam brings a wide breadth of experience in developing and delivering innovative investment solutions,” according to Patrick Campion, head of Wealth Management Americas, who Descovich will be co-reporting to along with Lavanya Chari, Deutsche head of Global Products & Solutions.

In addition, Descovich also will “be responsible for helping to build out our Environmental, Social & Governance product offering, which is quickly becoming not only an important component of our client offering but the core of everything we do,” according to Chari.

Descovich began work in the business in 1996 at Olde Discount, according to FINRA’s BrokerCheck. From there he moved to Salomon Smith Barney and Lazard Freres before joining UBS — where he was for 18 years, the last six as Americas head of Capital Markets Solutions. Earlier, he served as the Americas’ head of Structured Products Distribution (for seven years) and managed a global equity sales desk (for five years).

Related on ThinkAdvisor:

• $990M UBS Team Jumps to Raymond James
• Deutsche Bank on ESG: Inaction Is Not an Option