UBS AM names new president

The Swiss bank has named Aleksandar Ivanovic as the new head of the US1.6 trillion asset manager following the retirement of Suni Harford.

Harford steps down after four years heading the unit, latterly overseeing its integration with Credit Suisse following the $32 billion takeover.
Effective March, Ivanovic will join UBS's group executive board.

Ivanovic is a UBS veteran who joined in 1992 as an apprentice and was most recently head of client coverage and head of the EMEA and Switzerland regions.

He previously spent three years at Credit Suisse and five years at Morgan Stanley.

UBS said he has played a key role in developing and executing UBS's asset management strategy and leading the engagement with institutional and wholesale clients.

Beatriz Martin Jimenez, who heads its business in Europe, the Middle East and Africa, will succeed Harford as lead for sustainability and impact.

UBS chief executive Sergio Ermotti said that Ivanovic's "extensive experience and broad network across the firm make him the ideal person to build on our strong foundation and progress our integration plans".

At the same time, he continued, Martin Jimenez's many years of experience at UBS and other leading financial services firms will be invaluable in her new role.

The chief executive thanked  Harford for her leadership and commitment to UBS and for the significant contribution she has made to its success.