UBS Wealth Management has named a new CEO for the UK and Jersey.

UBS Wealth Management has named James Broderick as its new chief executive for the UK and Jersey, effective from 7 January 2013.

Broderick succeeds Andre Cronje, who has held the role for the past four years. Cronje is not leaving UBS however, but has decided to seek a new challenge within the group, the bank said in a statement. Details of what Cronje’s new role will be have yet to emerge; an announcement will be made in due course, a spokesperson for UBS told this publication.

Broderick was latterly head of JP Morgan’s asset management business in EMEA and chief executive of its principal affiliates in Europe. He had been with JP Morgan since 1993 and during his tenure led the development of the firm's UK and European mutual funds business.  

In his new role Broderick will be based in London, reporting to Jakob Stott, UBS Wealth Management’s CEO for Europe.

Broderick’s hire is the second top-level appointment made by UBS this month. Earlier in December Hubertus Kuelps was named as the Swiss banking giant’s new group head of communications - a role which carries responsibility for its communications and branding activities globally.

Kuelps succeeds Michael Willi, who is leaving the firm after two decades to pursue other opportunities. He had been group head of communications for four years.

Kuelps joins from the business software firm SAP, where he was head of global communications for two years.