UBS lose chief investment officer to HSBC
UBS Global Asset Management(UBS GAM) chief investment officer (CIO) and head of asset allocation Jon Taylor has left the group to take up the role of CIO atHSBC Asset Management.
He replaces departing HSBC CIO Paul Kasian.
Taylor will start at HSBC in around a month, holding overall responsibility for all aspects of equity, listed property and fixed income investment, as well as investment strategy and research.
WhileLonsec Researchsays the departure of Taylor from UBS is disappointing, it has not altered its ratings of the UBS Defensive Investment and UBS Balanced Investment Funds, with both maintaining ‘highly recommended’ ratings.
The research house also says UBS has “moved decisively” to restructure its asset allocation committee in light of Taylor’s departure, with the appointment of Michael Aked as chairman.
However, according toInvestorWebResearch, the title of CIO will no longer be used at UBS GAM, with Aked taking up the role of executive director, head of asset allocation.
InvestorWeb also says Aked is well qualified to assume the position, and as such, the research house maintains an ‘exceptional buy’ rating for UBS’ multi-sector products.
While InvestorWeb views Taylor’s appointment at HSBC as positive, the research house says the replacements for other key positions within the group remain critical.
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