Marten Hoekstra, the former chief executive of UBS Wealth Management Americas, has been appointed CEO of Emerging Global Advisors, a relatively new firm on the ETF scene focusing on investment in emerging markets.

At EGA he takes over from Robert Holderith, who will continue as president and concentrate on investment product development.

Hoekstra is a veteran of UBS, having worked there for 26 years, including predecessor firm PaineWebber. He was also a member of the group executive board.

This is the first news of a new role to emerge since his departure in 2009, around which time the Swiss banking giant was undergoing a structural upheaval to move forwards from the problems related to the financial crisis. At UBS, Robert McCann, an ex-Merrill Lynch wealth management top executive, took over the reins from Hoekstra.

In an interview with Barron’s over the weekend, Hoekstra is quoted as saying: "Working at a smaller firm has its advantages in terms of product development and aligning our interests with people who invest in fast-growing economies."

Emerging Global Advisors, founded in May 2009, is an asset management boutique based in Ridgewood, New Jersey. The firm manages nine ETF products focusing on specific sectors and themes, as well as a composite ETF with broader emerging market exposure.