UBS has announced that Mark Haefele will assume the role of Global Chief Investment Officer for UBS Wealth Management and Wealth Management Americas. Alexander Friedman, the current Global Chief Investment Officer, has decided to step down in order to pursue a new opportunity outside the firm.
Mr. Haefele will join the Wealth Management Executive Committee. He joined the firm in 2011 and is currently the head of the CIO Global Investment Office, reporting to Mr. Friedman. Prior to joining UBS, Mr. Haefele was a managing director at Matrix Capital Management, and before that was co-founder and co-portfolio manager at The Sonic Funds.
Juerg Zeltner, CEO of UBS Wealth Management said, “We are pleased that Mark Haefele has accepted this key role for UBS Wealth Management. Mark is a highly qualified investment expert with a global track record. His management skills and ability to transform his deep market knowledge into relevant information that benefits our clients, make him the ideal successor for this important position.”
UBS plans to further invest in the Chief Investment Office with a particular focus on expanding its capabilities in the emerging markets and Asian geographies as well as in its alternative investing and value-based investing offerings.
Mr. Friedman joined UBS in February 2011 to establish the Chief Investment Office and develop a UBS House View. Today, the Chief Investment Office manages the discretionary and advisory assets of Wealth Management clients worldwide, and provides the firm’s clear, consolidated view on all markets and asset classes.
Under the leadership of Mr. Friedman and his team, a systematic, global investment process has been established that has produced strong and consistent investment results for the firm’s clients during a volatile, post-crisis period. The process comprises the expertise of more than 900 in-house analysts and external experts, and forms the foundation of the UBS House View, globally recognized for its comprehensive and effective investment insights.
On the departure of Mr. Friedman, Mr. Zeltner said: “We are grateful to Alex for his exceptional leadership in creating a strong CIO team and running a world-class investment organization that has produced excellent results. He did a fantastic job and we wish him much success in his future endeavors.”