Swiss banking giant UBS has named William Kennedy as new global head of distribution for its global asset management unit, replacing Andreas Schlatter.

Based in Zurich, Kennedy will assume his new role in September 2015, UBS asset management president Ulrich Koerner said in a memo. Kennedy will report to Koerner.

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Kennedy was head of the investment products and services unit within the group’s wealth management before being replaced by Mike Stewart at the end of 2014.

Prior to that role, he was based in London at UBS’s investment bank.

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