UBS has appointed Daniel Kalt - formerly head of economic analysis at UBS Wealth Management Research - as its new chief economist in Switzerland.

Kalt first joined the Swiss bank in 1997 as an economist in the Swiss research team and has also worked in credit portfolio management for the corporate and private client credit business in Switzerland.

In his new role, which he assumes on 1 November 2010, Kalt will report to Andreas Höfert, UBS chief economist for wealth management and Swiss bank. While Höfert will analyse global economic and investment themes, Kalt will focus on the latest developments in the Swiss economy.

“Switzerland is so important for UBS that we wanted to have a specialised chief economist for this market. For our clients in Switzerland, we will produce more analyses and recommendations which focus on the Swiss economy,” said Höfert.