He will take over the Zurich-based role in September from Andreas Schlatter, a mathematician by training, who is leaving the bank after 19 years to pursue an academic career.

Kennedy left his role at UBS Wealth Management late last year when Mike Stewart took the reins as head of investment products and services. He previously worked within UBS’s investment bank in London. 

Kennedy will report to UBS's president of global asset management, Ulrich Koerner, who took over the division last year.

“With his strong client focus, his thorough knowledge of products and his wide network across units, William Kennedy is the ideal candidate to lead the further transformation of our global distribution organisation,” Koerner said in a memo to staff.