Christof Kutscher has resigned from UBS Global Asset Management according to a story in Asian Investor which notes he has been one of the industry’s longest serving CEOs in Asia.
Mr Kutscher joined the firm in 1995 and at the time of his appointment to lead the Asia-Pacific business in 2004 was country head in Japan, a market which continued to be part of his remit.
“Today the firm is one of the biggest foreign wholesale providers in Japan”, according to the Asian Investor.
UBS has not been so lucky in direct sales as its Japanese pension assets under management have slipped from a peak of 1,171.3 billion yen at 31 March 2007 to 302.4bn yen at the same time last year. After several years of growth its mutual fund assets under management have also slipped 770.921bn yen at 31 March 2010 to 694.5bn yen last year.