UBS appoints head of global real estate

UBS Global Asset Management has appointed Thomas Wels as head of its global real estate business.

Wels has worked for the firm since 2005, most recently as chief operating officer of the firm's executive committee. He replaced Paul Marcuse, who has held the role since 2007 and is leaving the firm to pursue new opportunities. "Thomas' strong leadership and entrepreneurial skills make him well qualified to drive the growth of our real estate business", said John Fraser, chairman and chief executive officer of UBS Global AM. "Paul has done a great job in bringing together our diverse real estate businesses under a global structure and has cemented our healthy industry position as a l...