UBS has announced significant changes to its Group Executive Board, marking the first major management shakeup since its takeover of Credit Suisse. As part of this reshuffle, UBS has split its wealth management role and named Rob Karofsky, the head of investment banking, to run its US business and jointly oversee wealth management. The changes are seen as a move to position potential successors for the CEO role, with the frontrunners getting a chance to impress. Additionally, the last CEO of Credit Suisse is set to leave UBS.