The London corporate communications department at the Union Bank of
Switzerland (UBS) has been wound up with a total of 18 communications
Heading the list of those moving on in light of the UBS merger with SBC
(Swiss Bank Corporation) are acting director of European corporate
communications Alan Ogden and press officer Paddy McGregor, who both
joined UBS from Hill and Knowlton last year.
As expected, and as in the rest of the company, the fall-out from the
merger has come from UBS rather than SBC (PR Week, 12 December
Ogden’s long-term plans are unclear. At time of going to press he was
holidaying in Eastern Europe. McGregor is joining the Royal Bank of
Scotland’s subsidiary RBS Trust Bank to head its media relations
department. RBS Trust is a custody management company, providing
financial services such as investment trusts.
A UBS spokeswoman said: ’People here have decided not to take up offers
in the new organisation.’ However, it is unclear how many of the
departing communications staff were actually offered jobs.
The asset management arm of UBS has been rolled into Warburg Dillon
Read, SBC’s asset management division. Corporate communications for
Warburg Dillon Read is run by head of corporate communications Kerry
A skeleton in-house team remains at UBS in London until the merger
process is complete. The bank brought in Bell Pottinger two months ago
to advise on the merger process and to handle corporate PR. This
The merger of UBS and SBC created the world’s second largest bank and
leading asset manager with pounds 598.8 billion under management.