UBS named a principal of NationsBanc Montgomery Securities Inc. as manager of its San Francisco branch and head of private banking there.
David B. Magee is also responsible for developing a plan to tap newly rich entrepreneurs as clients of the Swiss banking giant, formed in June when Union Bank of Switzerland and Swiss Bank Corp. merged.
The San Francisco branch has 15 employees. Mr. Magee reports to Los Angeles-based Richard Schaefer, head of private banking in the western United States.
At NationsBanc Montgomery, where Mr. Magee had been employed since 1995, he advised wealthy clients with highly concentrated equity positions. Previously he worked as a capital market specialist on hedging, arbitrage, and other portfolio management strategies at Oppenheimer & Co.
UBS, with headquarters in Zurich and in Basel, manages about $500 billion of assets for private clients and has more than $1 trillion of assets under management worldwide.