UBS Global Asset Management, the asset management arm of Swiss banking giant UBS, has named a new head of investment strategy for its Australia business.

Effective immediately, Tracey McNaughton joins the Australasia team and will focus on local economic and investment research. In addition, she becomes part of the Australian Investment Committee.

McNaughton was previously a senior investment specialist at Colonial First State, where she worked for three years. Prior to that, she held specialist roles at Ballie Gifford, BT Investment Management, Westpac and Credit Suisse First Boston. Taking over from Mark Rider, who moved to ANZ four months ago, she now reports to Bryce Doherty, head of UBS GAM in Australasia. 

In a statement, the firm said that the appointment strengthens its Global Investment Solutions division, which relies on a solid research base to grow its multi-asset strategies. 

UBS Global Asset Management has around A$37 billion ($34.6 billion) of invested assets in Australia as at 30 June 2013.