UBS AM appoints veteran to APAC operations

UBS Asset Management has appointed fixed income manager Hayden Briscoe to managing director and head of fixed income in its Asia-Pacific team. Briscoe will be based in the firm’s Hong Kong office and report to John Dugenske, UBS’ global head of fixed income. He steps into the new position with immediate effect, and will focus on one of the group’s main asset classes in the region. Briscoe joins from AllianceBernstein’s Hong Kong headquarters, where he worked for nearly seven years. Most recently, he was director of fixed income for Asia-Pacific. Earlier this month UBS announced job cuts and a freeze on new hires across its global wealth management operations. The programme was announced as a drive to return the division to profitability after the firm’s profits dropped by 64% over the course of the first quarter of this year. The firm attributed much of the fall to underperformance in its wealth management operations. The asset management business is separate to the UBS’ wealth management division. UBS Asset Management manages assets of $628 billion (€566.4 billion) as of March 31, 2016. ©2016 funds europe

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