Suni Harford was named president of asset management and an executive board member at UBS, a spokeswoman said.
Ms. Harford replaces Ulrich Koerner in the role. Mr. Koerner will remain with UBS as senior adviser to Group CEO, Sergio P. Ermotti until March 31, 2020, to support the transition, the spokeswoman said.
Ms. Harford joined UBS in 2017 and was head of investments for UBS Asset Management. Her replacement will be appointed in the next few weeks, the spokeswoman said.
Sabine Keller-Busse will succeed Mr. Koerner as president of Europe, the Middle East and Africa and retain her current role as group chief operating officer.
"I'm looking forward to having (Ms. Harford) ... join the group executive board. (She brings) strong leadership and people skills along with a track record of successful execution," Mr. Ermotti said in a news release.