Broderick will be based in London and will report to UBS CEO of Wealth Management, Europe Jakob Stott.

Broderick replaces Andre Cronje, who has decided to seek a new role within the Swiss bank after four years at the helm of the wealth management division.

Previously, Broderick was with JP Morgan, responsible for the firm’s asset management business in Europe, the Middle East and Africa and was the CEO of its principal affiliates. He had been at JP Morgan since 1993.

Commenting on the appointment Stott said: "We are delighted that Jamie has joined UBS. Jamie brings with him a distinctive track record of building a leading business franchise in a competitive, multi-jurisdictional marketplace and managing the challenges of difficult markets and a complex regulatory environment.

"His responsibilities have embraced multiple functions within asset management, and his focus has always been on the client-facing functions and the client experience," Stott added.