Alexander
Friedman, UBS Wealth Management’s chief investment officer, will hold
this position globally for the Swiss firm, including the Americas wealth
management segment, this publication can confirm.

UBS,
which holds around $1.5 trillion of client money in its wealth
management divisions, has decided to combine its investment and research
functions.

“A network of this scope will further strengthen WM's [wealth
management’s] global investment process, which already leverages the
expertise of more than 900 investment specialists across UBS, while
significantly enhancing our ability to analyse the markets and develop
tailored, innovative investment strategies for our clients,” according
to an internal memo seen by this publication.

As part of the move, Friedman will continue to report to Jürg
Zeltner, CEO of UBS Wealth Management, and additionally have a regional
reporting line to Bob McCann, CEO Wealth Management Americas.

Mike Ryan will continue to lead the wealth management research team in WMA and serve as chief investment strategist for WMA.

Anthony Roth, in addition to his current role as head of wealth
management strategies, will be head of asset allocation and portfolio
construction for WMA. Both men will have a functional reporting line to
Friedman, and report locally into Wealth Management Americas to Bill
Carroll, head of investment solutions.

In addition to his current roles, Andreas Höfert will serve as chief
economist for Wealth Management Americas and he will be located in New York.