A UBS news release said Sotorp, currently Head of UBS Global Asset Management, replaces Brian Storms (See CEOs to Watch ), who the announcement said was unwilling for personal reasons to relocate to Chicago, which would have now been required in the role.
According to the company, Sotorp joined UBS in January 2000 and was appointed head of Asia Pacific in 2002. Sotorp, who will be based in Chicago, assumes his new role on April 19.
UBS also announced that Christof Kutscher was named head of UBS Global Asset Management, Asia Pacific replacing Sotorp. Kutscher brings more than 17 years of industry experience, most recently as the head of UBS Global Asset Management’s Institutional and Wholesale Business, EMEA.