Philip Lofts was named CEO of UBS Group Americas and Maureen Miskovic was named group chief risk officer and member of the group executive board, effective Jan. 1, according to a UBS news release.
UBS is separating the roles of CEO and chairman, most recently held by Robert Wolfe. Mr. Wolfe will continue to serve as chairman of UBS Group and president of the investment bank.
“Given the importance of the Americas region, which has the largest concentration of UBS employees and is the world's largest wealth management market and investment banking fee pool, we decided to broaden our senior leadership team to provide the momentum necessary to develop key areas in the United States, Canada and Latin America,” Oswald J. Grubel, group CEO of UBS AG, said in the news release.
Mr. Lofts most recently served as group chief risk officer. In his new role, Mr. Lofts will work with business division heads on growth, strategy, profitability and integration.
Ms. Miskovic most recently served as chief risk officer of State Street Corp. She left in March and was replaced by Andrew Kuritzkes.
UBS spokesman Kris Kagel could not be reached for comment.