Swiss private banking unit UBS Wealth Management is set to announce that Adrian Schatzmann will be promoted to global head of its fund distribution business, AsianInvestor can reveal.
Schatzmann, who has been with UBS for 20 years, will relocate to Zurich to take on the role. He has been based in Asia since 2007, initially with its joint venture in Korea and subsequently as head manager of its research and fund platform for Asia Pacific.
Most recently his title was head of investment management, programme and content management for Asia Pacific, based in Singapore. The investment management part of his title refers to discretionary business for the firm’s high-net-worth and ultra-high-net-worth clients.
Part of his role was to develop and maintain the firm’s fund platform across Asia Pacific, including due diligence, the on-boarding of managers and monitoring. He had overall responsibility for the fund shelf.
Now he will take on part of the responsibilities that were formerly the remit of Rene Buehlmann, who used to be global head of the fund distribution business within wealth management, including alternative investments, and head of investment products and services in Hong Kong. Buehlmann was promoted to head of UBS Global Asset Management earlier this year, as reported.
In his new role, Schatzmann will report to Vittorio Schiro, the firm’s global head of advisory solutions and Asia-Pacific head of investment products and services. The new role becomes effective from September 1.
It is understood that UBS Wealth Management will seek a replacement for Schatzmann as head of investment mandates and programme and content management for Asia Pacific.
In June, UBS Wealth Management promoted Paul Stefansson to Asia-Pacific head of fund distribution, effective from July 1, as reported. This incorporated his previous post as head of investment fund and hedge fund distribution for Hong Kong and Singapore. He also reports to Schiro.
A spokesperson for UBS Wealth Management declined to comment for this article.