Richard Lloyd was named global head of structured solutions at UBS Global Asset Management, and Luke Browne was named deputy head, confirmed UBS spokesman Oliver Gadney.
Both positions are new, as is UBS Global’s new structured solutions unit, which will manage derivatives and risk management strategies.
Mr. Lloyd will start at UBS in late November, and Mr. Browne will begin in January.
Mr. Lloyd was head of structured solutions at Insight Investment. His duties there have been assumed by other staffers and his position will not be directly filled, said Insight spokeswoman Kelly Taylor.
Mr. Browne was head of structured solutions at Schroder Investment Management. John McLaughlin, head of multiasset and structured solutions, has taken on those duties and there are no plans currently to replace Mr. Browne, according to Schroders spokeswoman Elizabeth Saint.
The structured solutions team will be part of UBS Global’s Investment Solutions division. A dedicated structured solutions team was created because of increased client demand, Mr. Gadney said.
“The recent market turmoil has underscored the necessity of managing market risk in today’s uncertain environment,” Curt Custard, head of GIS said in a news release. “Many investors are moving towards a total return investment framework. Whether clients are looking for liability-driven investment, income enhancement, capital protection or to exploit anomalies in the market, we will now have expanded in-house capabilities to address their needs.”