Robert Wolf remains chairman of UBS Group Americas and president of the investment bank. The bank states that he has asked to step down from the group executive board at the end of 2010, but will continue to lead the firm’s efforts in public policy in Washington, DC, as well as community affairs and diversity initiatives in the region.

All three moves are with effect from 1 January 2011.

“Given the importance of the Americas region, which has the largest concentration of UBS employees and is the world’s largest wealth management market and investment banking fee pool, we decided to broaden our senior leadership team to provide the momentum necessary to develop key areas in the US, Canada and Latin America,” said Oswald Gruebel, group chief executive officer.

In his new role as Americas CEO, Lofts will work with the business division heads toward achieving sustainable growth in the region, with a focus on strategy, profitability and integration. Lofts assumes this role with an extensive knowledge of the complex regulatory environment in the financial industry, the investment bank and the Americas region. He was appointed group chief risk officer in November 2008.

Miskovic was most recently chief risk officer of State Street Corporation, as well as a member of that firm’s operating group and chair of its major risk committee. She will be based in Zurich and will report to Gruebel.

“Maureen’s extensive experience in risk management will build upon and enhance the solid foundation of the new risk organization of UBS. We look forward to her leadership in managing risk intelligently, thoughtfully and proactively,” said Gruebel.

In his role as chairman of UBS Group Americas and president of the investment bank, Wolf will focus full-time on client relationships and business transactions in the Americas. Wolf was appointed chairman and CEO, UBS Group Americas and president of the investment bank in 2007.