Robert J. "Bob" McCann

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Robert J. McCann
Robert J. McCann UBS.jpg
Chairman Americas of UBS Group AG
In office
January 2016 – present
Personal details
Born Robert J. McCann
(1958-03-15) March 15, 1958 (age 59)
Pittsburgh, Pennsylvania USA
Nationality American and Irish citizen
Alma mater Bethany College
Texas Christian University
Occupation Financial Services

Robert J. “Bob” McCann (born 15 March 1958 in Pittsburgh, Pennsylvania, USA) is an US-American and Irish citizen. He was formerly President Wealth Management Americas and President Americas of UBS Group AG.[1] He had led the Wealth Management Americas division since December 2011 and had served as a member of the UBS Group AG Group Executive Board since October 2009. He relinquished both roles when he stepped down in November 2015.[2][3]

McCann is now Chairman of UBS Americas and his duties involve strategic initiatives around clients and business priorities.[3] Tom Naratil has assumed McCann's previous roles.

Education[edit]

McCann graduated from West Virginia’s Bethany College in 1980 with a Bachelor’s degree in economics.[4]

He was later awarded a fellowship through the Sid W. Richardson Foundation to attend the Neeley School of Business at Texas Christian University, where he earned an M.B.A. in 1982.[5]

Subsequently, at Harvard Business School, McCann completed the Advanced Management Program.[2]

Career[edit]

Merrill Lynch & Co.[edit]

McCann’s career at Merrill Lynch & Co. began in 1982 and spanned 26 years. From 2003 and until his departure in January 2009, McCann was Vice Chairman of Merrill Lynch and President of Global Wealth Management[6] which offers investment banking and retirement services for individuals and businesses globally.

During his tenure, McCann held a variety of executive leadership positions. He was the Vice-Chairman of the firm's Wealth Management Group (including Global Private Client and Merrill Lynch Investment Managers), the Head of Global Securities Research and Economics (2001 to 2003), Chief Operating Officer of Global Markets and Investment Banking (2000), and Head of Global Institutional Sales (1998 to 2000).[7]

As Head of the Global Equity Trading & Markets Division, he was responsible for trading and risk management activities relating to Merrill’s equity products, which provided issuers and investors access to world markets through the global underwriting, trading and distribution of stocks.

In 1998, McCann took over the Global Institutional Client Division, where he was responsible for all debt and equity client relationships, overseeing more than 4,000 institutional investor clients worldwide. In 2001, McCann became a member of the Executive Management Committee and was named Head of Global Securities Research and Economics, responsible for all equity, fixed income and economic research worldwide.

In addition, McCann worked in 2003 in AXA Finance as the Vice-Chairman in distribution and marketing.

UBS Group Americas[edit]

McCann is presently Chairman of UBS Americas having stepped down as President of UBS Wealth Management Americas (formerly CEO of Wealth Management Americas) and as a member of the UBS Group AG Group Executive Board effective January 2016, roles he took on when he joined the firm in October 2009.[8] McCann has also held the position of President Americas since December 2011 (formerly CEO of UBS Group Americas). After the restructuring of UBS AG to become UBS Group AG in 2014, he was appointed to the same position.[8]

As President of UBS Wealth Management Americas, McCann coordinated Wealth Management Americas, the Investment Bank and the Asset Management divisions, which conduct business in the U.S., Canada, Latin America and South America.[1] McCann has worked with various securities associations and exchanges. He is a former governor of FINRA[9] and board member of the Securities Industry Association. In his new role as Chairman of UBS Americas, he will focus on clients and strategic priorities in the region.[10]

Investor surveys revealed a dramatic increase in pessimism over the short-term U.S. economic outlook.[11] In particular, they were concerned about the staggering federal debt burden and unemployment. In an effort to address these concerns, Wealth Management Americas conceived Revitalizing America, an initiative that consists of high-profile speaking engagements along with programs aimed at shaping common ground and exploring ways to reignite the U.S. economy.[12] To date, McCann has presided over several conversations with Presidents Bill Clinton and George W. Bush, in which they shared their views on today’s economic challenges and how the country as a whole can work together with the best outcome for future generations. The conversations focused on some of the critical drivers of U.S. competitiveness, including fiscal reform, education and job creation.[13]

The Clinton Foundation and UBS Wealth Management Americas formed the CEO-UBS Small Business Advisory Program, a philanthropic partnership aimed at boosting business and job growth by bolstering the knowledge and skills of small business owners in underserved communities. The Foundation’s Clinton Economic Opportunity Initiative (CEO) and UBS Wealth Management Americas in 2011 concluded the six-month pilot mentorship program in the New York City metropolitan area, where small business owners received guidance from a UBS financial advisor, along with access to Wealth Management Americas clients who are experienced business leaders.[14] In 2012 this programme was rolled out across firms in Chicago and Los Angeles.[15]

Charitable and other nonprofit pursuits[edit]

Bethany College[edit]

McCann is the founder of the McCann Learning Center at Bethany College, his alma mater. The mission of the center is to enhance the learning skills of all students, transform the college experience of students with learning disabilities and support the heightened performance of faculty and staff.[16]

McCann also established the McCann Family Student Investment Fund, which enables Bethany students to serve as investment professionals in managing and investing endowment funds. They research stocks, make investment recommendations and execute trades, applying the knowledge they gained in the classroom to real-world financial markets.[17] In 2015, McCann and his wife Cindy donated a challenge gift in order to fund technology upgrades, personnel, and modern processes.[18]

In 2010, McCann was awarded with an honorary Doctorate of Humane Letters degree from Bethany College.[19]

The American Ireland Fund[edit]

McCann first got involved with The American Ireland Fund in 1998. Through his involvement with The American Ireland Fund, his focus has been on education and intercultural communication, where he helped raise funds to build a grade school in Northern Ireland dedicated to integrated education. He currently serves on the Executive Committee of the Board of Directors.[20]

He has been inducted into the Irish America Hall of Fame in March 2015.[21] In 2016, McCann received the Chairman's Award of the Fund. .[22]

No Greater Sacrifice[edit]

McCann is an Executive Patron and member of the Presidents Circle of No Greater Sacrifice, an organization that funds the education of children of military personnel who have been wounded or killed in the line of duty.[23]

Other nonprofit work[edit]

In addition, Bob McCann is a member of the Committee Encouraging Corporate Philanthropy,[24] a member of the board of the Catholic Charities of the Archdiocese of New York,[25] and member of the board of the Partnership for New York City.[26]

Personal life[edit]

McCann was born and raised in Pittsburgh , Pennsylvania.[27] A dual citizen of the United States and Ireland,[28] he and his wife Cindy, have two daughters, Meredith and Madeline, and live in New Jersey.[29]

References[edit]

  1. ^ a b "Robert McCann becomes CEO of UBS Group Americas unit" by Lorie Konish, December 1, 2011 www.onwallstreet.com
  2. ^ a b "Bloomberg Profile". bloomberg.com. Retrieved 2015-02-09. 
  3. ^ a b Leonhardt, Megan. "Bob McCann Steps Down as UBS Brokerage Head". WealthManagement.com. Retrieved 9 January 2016. 
  4. ^ "UBS Robert J. McCann". UBS.com. Retrieved 2015-02-09. 
  5. ^ "International Wealth Management Leader Robert McCann to Address Bethany College Fall Convocation". Bethany College. Bethany College. Retrieved 10 November 2015. 
  6. ^ https://www.ubs.com/global/en/about_ubs/about_us/news/news.html/en/2009/10/27/2009_10_26a.html
  7. ^ https://www.ubs.com/global/en/about_ubs/corporate-governance/group-executive-board/cv-robert-mccann.html
  8. ^ a b "UBS Corporate Governance, Group Executive Board". ubs.com. Retrieved 21 March 2015. 
  9. ^ "Securities Firms Elect Seven Industry Governors to FINRA Board of Governors," www.finra.org, October 29, 2007
  10. ^ "Robert McCann named UBS Americas' new chairman" http://www.investmentnews.com
  11. ^ Survey by Research Now, conducted online among 2,495 investors in the U.S. during March and April 2011. Respondents were screened to meet the following criteria: age: 25+, at least an equal share of financial decision-making responsibility in their household, work with a financial advisor and have at least $250,000 in investable assets (excludes real estate and private business assets). 46% of respondents have at least $1,000,000 in investable assets.[citation needed]
  12. ^ "UBS Wealth Management Americas (WMA) Hosts Revitalizing America: A Presidential Conversation On The Nation's Economic Recovery With Bill Clinton And George W. Bush" www.thestreet.com
  13. ^ AdvisorOne.com, “UBS Hosts Client Forum with Clinton, Bush on Economy,” by Janet Levaux, August 2, 2011.
  14. ^ "Clinton Foundation and UBS Wealth Management Americas Launch CEO-UBS Small Business Advisory Program," , Small Business Trends, July 9, 2011
  15. ^ Wollman Rusoff, Jane. "UBS Offers Big Help for Small Business". Think Advisor. www.thinkadvisor.com. Retrieved 3 October 2013. 
  16. ^ "Bethany College : Learning Services," www.bethanywv.edu
  17. ^ "Bethany College takes classroom Learning to Wall Street with $1 Million McCann Investment Fund" www.irishcentral.com
  18. ^ "Bethany College Announces $1 Million Challenge Gift" http://bethanywv.edu
  19. ^ "Bethany College : Honorary Degrees," www.bethanywv.edu
  20. ^ "Robert J. McCann | Irish America" irishamerica.com
  21. ^ "Bob McCann to Be Inducted to Irish America Hall of Fame" www.irishamerica.com
  22. ^ "Fanfare: American Ireland Fund's Green Tie Gala at Heinz Field" http://triblive.com
  23. ^ "Nonprofit Report for NO GREATER SACRIFICE" www2.guidestar.org
  24. ^ "Committee encouraging corporate philanthropy: UBS," www.cecp.co
  25. ^ "Catholic charities ny | Board of Trustees" www.catholiccharitiesny.org
  26. ^ "Partnership for New York City | Mission" www.pfnyc.org
  27. ^ Merrill Lynch’s WorldNet News, “Bob McCann: Expanding the Commitment to Excellence in Research,” March 14, 2002.
  28. ^ "Robert J. McCann | Irish America" www.irishamerica.com
  29. ^ "CV: Bob McCann, by Lauren Willington, October 27, 2009." www.efinancialnews.com

External links[edit]