UBS announced two senior appointments for its new sustainability and impact unit, reporting to the president of the firm's money management division.
Michael Baldinger was named chief sustainability officer for UBS, a new position. He was head of sustainable and impact investing. Chris Greenwald, head of sustainable investment research and engagement at UBS Asset Management, will broaden his responsibilities to take on Mr. Baldinger's role as head of sustainable and impact investing for the money management unit, a spokeswoman said. Mr. Greenwald's new title will be head of sustainable investment research and investment specialists, and he will report directly to Barry Gill, head of investments, she added.
Zurich-based Mr. Baldinger will be responsible for setting and driving the implementation of UBS' sustainability strategy and will also oversee all sustainable investment-related projects and activities.
Phyllis Costanza was named head of social impact for the new unit, a new position that reflects the group's "greater emphasis on social impact in the UBS purpose," the spokeswoman said. New York-based Ms. Costanza retains her responsibilities as head of UBS Philanthropy and CEO of the UBS Optimus Foundation.
The new sustainability and impact unit will report to Suni Harford, group executive board sponsor for sustainability and impact and president of UBS AM. The unit will lead activities to drive UBS' sustainability agenda and deliver on its net-zero commitments. It brings together subject matter experts and thought leaders from across UBS and will act as a focal point and center of excellence. The number of staff employed at the unit was not disclosed, the spokeswoman added.
The changes will be effective June 1.
"Sustainability is at the core of our new purpose to reimagine the power of investing and connect people for a better world," Ms. Harford said in a news release. "By creating the sustainability and impact organization with these senior appointments, we aim to extend the group's leadership in sustainability and take another step toward meeting our net-zero ambitions."
UBS Asset Management had $1.1 trillion in assets under management as of March 31.