Naureen Hassan is leaving her role as first vice president and chief operating officer of the Federal Reserve Bank of New York (FRBNY) to join UBS as president, UBS Americas.

Prior to joining the FRBNY, Hassan was chief digital officer for Morgan Stanley Wealth Management and, before that, held senior leadership roles at financial services multinational Charles Schwab Corporation. She began her career at McKinsey & Company.

Group chief executive officer Ralph Hamers said: “I am delighted to welcome Naureen Hassan to UBS as President UBS Americas. I also want to personally thank Tom for his leadership and significant contributions to UBS over the past four decades. He’s been a champion of our strategy and transformation and a vocal advocate of our diversity initiatives. I wish him all the best in his future endeavours.”

Hassan 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.