UBS Europe SE, Luxembourg Branch
Head of Asset Servicing UBS in Luxembourg
Always striving for the extra tenth of a second
Head of Asset Servicing and motor racing fan Hermann Kranz says Asset Servicing is like Formula 1 – you need a team that is always striving for the extra mile and eager to win to maintain a crucial margin over your competitors.
Business and sports – the perfect analogy
Hermann Kranz, the Luxembourg-based Head of Asset Servicing for UBS in Luxembourg, is fond of sports analogies, as you could expect from some- one whose passions extend from target shooting to motor racing. He says Asset Servicing is like Formula 1. Past achievements are no guarantee of future success and small margins – the 10th of a second in lap time – can make the difference between winning and losing – whether you are on the racetrack or want to stay ahead of business competitors. When rethinking its strategy a decade ago, UBS made sure to apply this approach by combining the strengths of its local and global capabilities thanks to out- standing collaboration of talents on the field and high-quality execution behind the scenes.
Hermann Kranz has the German nationality but is effectively a local – he was born in nearby Wittlich in 1961 and speaks German, French and English. Hermann began his working career as an o cer in the German Air Force. He graduated with a degree in Business Administration from the University of Hamburg in 1986 and joined what was known as UBS Luxembourg S.A. in 1993 as a systems administrator, soon becoming Chief Information Officer. Following a short journey with UBS in the Netherlands, he took over the new Asset Servicing business upon his return to the Grand Duchy in 2010 and is today member of the bank’s Management Committee in Luxembourg. He claims he would never want to be anything but a banker, citing his detailed but wide-ranging knowledge of the business as one of his key qualities.
Innovation is key
After the financial crisis, UBS had seized the opportunity to rethink its strategy, bringing its EU-focused business closer together allowing to better respond to the diverse needs of its client segments. As in Formula 1, standing still is going backwards. Therefore UBS is constantly developping innovative approaches and IT applications to keep ahead of the game. The great strength of the business, Hermann Kranz argues, is the ability to match service capabilities comprehensively to clients’ requirements: “Other providers give their clients what they have – we provide them with what they need.”
Facts & Figures
Birth place : Wittlich
Nationality : German
Number of children: 0
Languages: German, English, French
Hobbies: Sports and target shooting
Favourite Towns: Berlin
Favourite Places: Alexanderplatz
Favourite Book: Helmut Schmidt, A grand strategy for the West
Favourite Restaurants: Beef Grill Club Berlin
Favourite Music: Rammstein
Favourite Artwork (or artist): Nofretete, New Museum Berlin