In his new role, Friedman will be responsible for combined investment and research across all regions, reported Bloomberg.

Previously, Friedman was the chief investment officer for the business excluding Americas. Prior to joining UBS in March 2011, he served as the chief financial officer of the Bill & Melinda Gates Foundation between 2007 and 2010. He has also worked at Lazard Ltd. as a mergers and acquisitions banker.

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According to Bloomberg, UBS said that Mike Ryan continuing to lead research for the wealth management Americas unit, will serve as its chief investment strategist.

Anthony Roth, who now heads wealth management strategies, will in addition serve as the head of asset allocation and portfolio construction for the Americas unit.

Both Ryan and Roth will be reporting to Friedman, and regionally to Bill Carroll, head of investment solutions at the Americas division.

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