UBS Wealth Management has established a philanthropic services division which will be part of its financial planning business.
The firm has hired Fiona Rowland to head up the group's planning and philanthropic services.
In the new role, Rowland will advise and manage the investments of charities. She will also provide advice to the firm's wealthy clients on philanthropy as well as establishing charitable endowment funds and prescribed private funds on their behalf.
Rowland previously worked at ANZ Trustees as head of charitable foundations. She has also worked at ANZ in product development for its financial planning division.
UBS will also use its relationship with the UBS Foundation and its senior people who are on the boards of not-for-profits and charities to help grow its philanthropic services.
The wealth manager, however, will not be moving into trust administration and governance services.
