UBS AG, the corporate parent of Wall Street firm UBS, has named a Morgan Stanley executive to head an investment banking unit that has been wrestling with U.S. mortgage-related writedowns. Jerker Johansson, a vice chairman in Europe for Morgan Stanley, has been appointed chairman and chief executive officer of UBS Investment Bank. UBS, which has dual headquarters in Zurich and Basel, also made three appointments to its executive board: Robert Wolf, chairman and CEO of UBS Group Americas and president and chief operating officer of the investment bank; Alexander Wilmot-Sitwell, joint global head of the investment banking department; and Martin Hoekstra, head of wealth management for the Americas.
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