UBS Global Asset Management CEO John Fraser is to retire from the group, having headed the asset management business since 2001.
Fraser will retire from his role as of 31 December, stepping down from the UBS group executive board at the same time, and will be replaced as asset management CEO by Ulrich Koerner. Koerner, currently group chief operating officer, will take on the new role in addition to his position as CEO Europe, Middle East and Africa. Chief Financial Officer Tom Naratil will become group COO in addition to his current role. Fraser, meanwhile, is to retain his position as chairman of the Global Asset Management division.
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