Hassan is currently the first vice president and COO of the Federal Reserve Bank of New York, its the second highest-ranking officer.
Indian American Naureen Hassan will join the President of UBS Americas and CEO of UBS Americas Holding LLC. She will succeed long-time UBS Americas chief Tom Naratil on October 3.
Hassan is currently the first vice president and chief operating officer of the Federal Reserve Bank of New York.
“I am delighted to welcome Naureen Hassan to UBS,” said Group CEO Ralph Hamers.
Hassan, who will also serve on UBS Group’s Executive Board, will be “responsible for driving client relationships, promoting cross-business collaboration, navigating the evolving public policy landscape, and ensuring sound regulatory and reputational risk governance,” the company said in a press release.
UBS Americas is the subsidiary of the Zurich, Switzerland, -based UBS Group AG, the world’s biggest wealth manager.
Hassan, who grew up in south central Pennsylvania and earned her undergraduate degree in economics from Princeton University and aMBA from Stanford University Graduate School of Business, will lead UBS’s “strategic growth and digital initiatives in the Americas region, including the transformation of the firm’s Wealth Management Americas Platform, expansion of digitally customized banking services, implementation of the Wealthfront acquisition upon closure, and the rollout of UBS Circle One in the region,” the release said.
In another major personnel change, Iqbal Khan will become the president of UBS’ Global Wealth Management division. Khan, a Swiss national, has been co-president of the division, along with Naratil, since 2019.
As the first vice president, Hassan is the second highest-ranking officer at the New York Fed and an alternate voting member of the Federal Open Market Committee, which sets the U.S. monetary policy.
The New York Fed is the most influential among the 12 equal Federal Reserve Banks, and, therefore, considered first among equals. It is the largest Federal Reserve Bank in the country in terms of assets and most active by volume. It is also the place where the U.S. monetary policy is implemented.
Prior to joining New York Fed, Hassan served as the chief digital officer of wealth management at Morgan Stanley.
Before joining Morgan Stanley in March 2016, she was an executive vice president of investor services, segments and platforms, at Charles Schwab Corporation.
Hassan started her career at McKinsey & Company, as business analyst and associate principal.
Hassan’s parents are immigrants from Kerala, India. Her father, Javad K. Hassan, is a prominent technology leader based in the Washington, DC, area. Javad Hassan, a former senior executive at IBM and former president of Global Inter Connect Systems at AMP Inc (now TE Connectivity), is the chairman of the McLean, VA, -based NeST Group.