UBS Wealth Management names Chief Investment Officer
UBS has announced that Alexander S. Friedman will become UBS Wealth Management's Chief Investment Officer (CIO), effective March 1, 2011. The move underpins UBS's commitment to world-class client investment performance.
The CIO office will be charged with overseeing global investment strategy and policy while working closely with other Wealth Management functions, as well as Global Asset Management, and the Investment Bank.
Friedman is a highly experienced financial executive and the former Chief Financial Officer of the Bill & Melinda Gates Foundation. Joining him in key roles will be Mona Sutphen, the former White House Deputy Chief of Staff for Policy to U.S. President Barack Obama, who will lead macro analysis, and Mark Haefele, a well-regarded alternative asset manager, who will lead investment analysis. Over time, the group will build out a global team.
The Chief Investment Officer function will focus on wealth protection and optimized financial returns consistent with client objectives. Friedman and his team will be responsible for defining and proposing appropriate investment allocations and strategies and for communicating them across the platform.
The Chief Investment Officer will report to Wealth Management CEO Jürg Zeltner. CEO UBS Wealth Management Jürg Zeltner said: "The creation of the Chief Investment Officer function illustrates our genuine commitment to financial performance for our clients. Friedman, Sutphen and Haefele's extensive knowledge and complementary skills will be greatly beneficial to our organization and our clients."