Rosemary Berkery
Vice Chairman, UBS Wealth Management Americas, and Chairman, UBS Bank USA
Those looking to boost sales of banking products to wealth management clients could pick up some pointers from Rosemary Berkery. When Berkery joined UBS Bank USA as its chairman in early 2010, it had just $85 million of mortgage loans on its books an indication that many wealth management customers were going elsewhere for home loans. So Berkery created a range of programs designed to encourage these clients to use UBS' banking products, and by the end of 2013, the mortgage portfolio had swelled to $6.7 billion. In one example, UBS advisers were able to land the $10 million mortgage of a wealthy individual through a program that lets clients finance 100% of a home's value by pledging eligible securities as collateral in lieu of a down payment.
It's not just in mortgages that the $46 billion-asset bank is seeing substantial growth either. Thanks in part to an incentive program that Berkery implemented to reward advisers for selling banking products and services, deposits jumped 48% in a three-year period ending Dec. 31, 2013, according to Federal Deposit Insurance Corp. data. Berkery has had a long career on Wall Street and is a former vice chairman at Merrill Lynch & Co.
