UBS Global Asset Management has appointed Stephen Hutton as head of UK wholesale, replacing Graham Kane, who retired from the business in August last year.  

Subject to FSA approval, Hutton will oversee an eight-strong UK sales team while developing the UK wholesale business, which had £2.3 billion (about $3.5 billion) in assets under management at end June.

According to a statement, Hutton was latterly Northern head of distribution and platform proposition at Zurich Intermediary Group. He has over 25 years of experience in the UK wholesale market. 

Prior to Zurich Intermediary, he oversaw Fidelity International’s IFA sales team, having also worked for Scottish Widows Investment Partnership and Invesco Perpetual Investment Management.

UBS Global Asset Management had some SFr569 billion ($599 billion) in invested assets at end June. The firm's principal offices are in London, Chicago, Frankfurt, Hartford, Hong Kong, New York, Paris, Singapore, Sydney, Tokyo and Zurich.