Richard Kiel has joined UBS Global Asset Management in New York as global head of investment risk solutions
Kiel joined the firm in New York on 29 August and reports to Curt Custard, head of global investment solutions. Kiel was previously global head of post-trade services at Thomson Reuters, a position he assumed in 2005.
In an internal memo seen by Squawkbox, UBS says Kiel’s “extensive experience in business development for market data services, transactions and risk applications will be of vital importance as we work to develop our offering of our Global Risk System as an external service to third parties.”
The new investment risk solutions business consists of four pillars: models and analytics, led by Guenter Schwarz; business development, led by Andrew Fishman; advisory services, managed by Mark Deans; and IT and operations, led by Jeff Hill. Schwarz, Fishman and Deans will report to Kiel.
“We are confident this new team structure will use our resources most efficiently and will enable us to further develop our risk advisory offering,” the memo says.
The risk advisory offering is a service to help clients understand the risk in all their portfolios including assets not managed by UBS Global Asset Management. The firm offers external access to its multi-asset class risk models and risk capabilities as well as support from risk professionals in the analysis, interpretation and management of risk in single and multi-asset class portfolios.