UBS Asset Management appoints head of Asia-Pacific

Sotorp, who was previously head of Japan, will remain as a member of the firm's executive committee and management board and will report to John Fraser, global chairman and chief executive of UBS Asset Management.

He joined the bank in early 2000, bringing with him 17 years' experience in the investment management industry. Prior to UBS, he was chief operating officer of American International Group's asset management business in Japan. Before that, Sotorp was chief executive and president of the, then, AIMIC Investment Management while also having worked in product development, marketing and business planning at US fund management company, Kemper Financial Services.

Commenting on the appointment, John Fraser, global chairman and chief executive of UBS Asset Management said: "Kai has been instrumental in the integration of our asset management operations in Japan and, in particular, has spearheaded the successful development of our wholesale and financial institution business in that market. His appointment reflects the firm's increasing commitment to its asset management capability in the region."