In a significant strategic hire, UBS Asset Management has recruited a top executive from a major UK rival to lead its newly consolidated investment division. The Swiss banking giant has appointed Sonja Laud from Legal & General Investment Management (LGIM) to serve as co-head of the combined unit.
A Strategic Hire for a Combined Force
Sonja Laud joins UBS from LGIM, where she held the pivotal role of chief investment officer. Her appointment is a direct result of UBS's integration of Credit Suisse's asset management business, a process set in motion following the historic acquisition last year. Laud will share leadership responsibilities with Barry Gill, who currently heads the investments function.
The move is designed to unify and strengthen the investment capabilities of the merged entity. The combined investments team that Laud and Gill will oversee is responsible for a colossal £1.6 trillion in assets. This consolidation aims to create a more streamlined and powerful investment engine for the world's largest wealth manager.
Background and Industry Implications
Laud brings a wealth of experience from her tenure at LGIM, one of the UK's leading asset managers. Her expertise is expected to be invaluable as UBS seeks to fully realise the benefits of the Credit Suisse takeover. The integration has been a complex undertaking, and key hires like this signal UBS's commitment to building a premier, unified asset management platform.
The appointment underscores the ongoing reshuffling of talent within the global fund management industry, particularly following major mergers. Attracting a high-calibre figure like Laud from a established competitor is seen as a coup for UBS and a statement of intent for the future direction of its investment arm.
Looking Ahead for UBS Asset Management
With Laud and Gill at the helm, the focus will now turn to executing a cohesive investment strategy across the enlarged portfolio. The leadership duo will be tasked with driving performance, innovation, and client outcomes for the mammoth £1.6tn pool of assets. This hire is a clear step in UBS's plan to not only integrate but also enhance its asset management offering on the global stage.
The financial industry will be watching closely to see how this new leadership structure influences the firm's product offerings and market position. The success of this and other integration moves will be crucial in determining the long-term payoff from UBS's acquisition of Credit Suisse.
