(Reuters) – UBS has appointed its Americas chief investment officer, Solita Marcelli, to succeed Bruno Marxer as head of global investment management, according to an internal memo seen by Reuters on Monday.
Marcelli will take on the role, which will be expanded to now cover the Americas, APAC, Switzerland and EMEA, effective July 1.
Marxer, who has decided to retire at the end of the first quarter of 2026, will continue in his role until June 30 for seamless transition, the memo said.
UBS said last year it was planning to overhaul its wealth management business in the United States, splitting the operation into six divisions and focusing more on clients that are not super wealthy.
Ulrike Hoffmann-Burchardi will assume the role of chief investment officer Americas effective July 1, in addition to her current role as chief investment officer for global equities, according to a different memo seen by Reuters.
(Reporting by Prakhar Srivastava in Bengaluru and Lananh Nguyen in New York; Editing by Shinjini Ganguli)
