UBS has named Kevin Lecocq as global head of products in asset management, effective next month.
Based in Zurich, Lecocq will work together with teams in distribution, operations and marketing to manage the products and ensure effective investment performance management, reported Bloomberg.
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Lecocq joined UBS from Deutsche Bank, where he served as global chief investment officer of private wealth management.
The hiring is part of the bank’s restructuring of its asset management unit to increase profitability.
Ulrich Koerner, heads of the asset management unit, said he is planning to increase annual pretax profit to CHF1bn in the medium term from CHF576m last year by boosting investment performance and increasing collaboration with UBS’s wealth-management businesses.
"To provide superior products for our clients, we must have best in class product development and management capabilities. Efficiency and speed to market, with the right products in the right wrappers, will be vital," Koerner said.
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By GlobalDataAdditionally, Koerner has promoted Andreas Schlatter, currently head of asset management in Switzerland, as the global head of distribution.
Schlatter will manage sales in Switzerland and Europe on an interim basis while Shawn Lytle will manage the team in the Americas and Rene Buehlmann in Asia Pacific.
