UBS asset management head retires - Reuters

UBS said its operations chief Ulrich Koerner would run its asset management arm when its head retires next year, writes Reuters. The Swiss bank said Koerner would hold onto his job as head of Europe, the Middle East and Africa but would no longer be head of operations from January 1, when he replaces John Fraser as chief executive of asset management. In turn, the operations role will go to finance chief Tom Naratil, who adds it to his existing brief, writes Reuters.

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