MONEY MANAGEMENT

UBS Asset Management appoints head of product strategy and innovation

Terry Jones was named head of product strategy and innovation at UBS Asset Management, spokeswoman Sheryl Lee said.

The position is new. Effective June 1, Mr. Jones will be responsible for overseeing, implementing and designing new investment strategies for the firm, as well as building on the firm’s existing offerings. He will also be responsible for overseeing the firm’s pricing and investment performance analytics teams.

Mr. Jones will be based in New York and report to Bill Ferri, head of asset management Americas, products and solutions.

Mr. Jones was president, institutional products at Highland Capital Management. He is not being replaced, said spokeswoman Lucy Bannon.

UBS Asset Management had $695 billion in assets under management as of March 31.