Advisor Intelligence

UBS Promotes Global Markets Deputy to Top CIO Spot

Mark Haefele, formerly global head of investment, will take over as global Chief Investment Officer for UBS Wealth Management and UBS Wealth Management Americas, replacing Alexander Friedman.

In his new role, Haefele will oversee and manage the $1.1 billion in assets of wealth management clients worldwide, according to the firm's announcement Monday. With UBS since 2011, Haefele most recently served under Friedman as head of the CIO Global Investment office. Prior to joining the firm, Haefele acted as managing director of Matrix Capital Management. He was co-founder and partner in Sonic Capital and co-managed the fund's portfolio.

“Mark is a highly qualified investment expert with a global track record. His management skills and ability to transform his deep market knowledge into relevant information that benefits our clients, make him the ideal successor for this important position," Juerg Zeltner, CEO of UBS Wealth Management, said in a statement Monday.

Under Haefele’s management, UBS says it plans to expand its capabilities and resources in emerging markets and Asia, as well as explore additional alternative investing solutions and values-based investing.

Friedman, who joined UBS in 2011 and established the chief investment office, is leaving to pursue “a new opportunity outside the firm,” according to Monday’s announcement. The firm did not immediately elaborate further on the former CIO's plans and Friedman was not immediately available for comment.

During his time with the firm, Friedman developed a UBS House View, a unified global investment process recognized for its comprehensive and effective investment insights.

“We are grateful to Alex for his exceptional leadership in creating a strong CIO team and running a world-class investment organization that has produced excellent results,” Zeltner says. “He did a fantastic job and we wish him much success in his future endeavors."

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