Charlotte Baenninger was named head of fixed income at UBS Asset Management, confirmed a UBS spokeswoman in an email.
Ms. Baenninger replaces John Dugenske, who was named executive vice president and chief investment officer at Allstate Corp. in early 2017.
Ms. Baenninger had been filling in as interim global head of fixed income since Mr. Dugenske's departure. She has worked at UBS since 1987, most recently as head of fixed income Switzerland and Central Europe, Middle East and Africa.
Ms. Baenninger reports to Suni Harford, head of investments.
In addition to her global responsibilities, Ms. Baenninger will remain head of European and Swiss fixed-income strategies.
As of Sept. 30, UBS had $233 billion in fixed-income assets under management, including money market accounts, and $744 billion in total AUM.