UBS today announced it is carrying out a reorganisation of its global wealth business, which reported large net outflows in its fourth quarter results this morning. However, questions remain over whether the reorganisation is a minor change to its previous model and whether the revamp will be sufficient to stem future outflows.

Switzerland's biggest bank has split its global wealth business effectively into three units: the Swiss business under the leadership of Franco Morra; wealth management Americas led by incumbent chief executive Marten Hoekstra; and the international business effectively under Juerg Zeltner.