The U.S. brokerage arm of UBS shook up its leadership ranks on Friday, removing a layer of management under CEO Robert McCann and giving private wealth management head Jason Chandler a bigger role.

McCann, the former Merrill Lynch executive who took over UBS Wealth Management Americas in 2009, also gave some top lieutenants more duties as he takes on his new, expanded role as chief executive of UBS Americas, according to an internal memo distributed on Friday that was obtained by Reuters.

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