UBS picks Custard to lead global investment group

Curt Custard was named managing director and head of global investment solutions by UBS Global Asset Management, replacing Brian D. Singer, a 17-year veteran of the firm, said spokeswoman Karina Byrne. Mr. Custard in March will take the helm of GIS, which manages $186 billion for institutional clients in asset allocation and absolute return strategies spanning a wide variety of asset classes. He will be based in London, reporting to John A. Fraser, chairman and CEO. Mr. Custard had been global head of multiasset solutions at Schroders in London; he will be replaced by John McLaughlin, chairman of Schroders’ Japanese operations and deputy chief executive for the firm’s wider Asia-Pacific operations, said Nik Ekholm, Schroders global head of public relations. Mr. Ekholm said some of Mr. McLaughlin’s current duties will be assumed by Lester Gray, Schroders CEO for Asia Pacific. He said Mr. McLaughlin will be involved in the firm’s Japanese operations for another year after his move to London. UBS spokesman Kris Kagel said the firm still is evaluating its options regarding Mr. Singer’s replacement as regional CIO of the Americas. Mr. Kagel declined to comment about Mr. Singer’s plans; a request for an interview was not granted by press time.