JPMorgan Rejigs Senior Execs in CIB, UBS Unveils 2013 Financial Adviser Pay Plans

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JPMorgan said it is recasting responsibilities of some of its executives in corporate and investment banking after deciding in July to put two key business segments into one.

Reuters reports that the steps, announced on Tuesday in an employee memo provided to the news agency, raises the profiles of two emerging markets specialists.

The memo, from the two co-CEOs of JPMorgan's recently combined Corporate & Investment Bank, said they would integrate coverage of banking clients under two men: Jeff Urwin, who will continue as global head of investment banking, and Don McCree, the global head of treasury services who will now also oversee corporate banking.

In the meantime, Reuters also reports that UBS Wealth Management Americas released its 2013 compensation plan to its financial advisers on Tuesday, announcing changes that will give them incentives to sell a wider range of products and bring in more revenue.

There are also changes to the compensation structure that will likely help the company retain more advisers in what is an increasingly competitive landscape for top talent.

JPMorgan realigns executives in corporate and investment banking

UBS' new adviser pay rewards cross-selling

image: © Tax Credits

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