UBS announced that it has appointed Jerker Johansson as chairman and CEO of its investment bank.

Johansson was also added to the group executive board. He will take up his appointment from March 17 and will be based in London. He joins UBS from Morgan Stanley, where he was vice chairman, Europe. From 2005 to December 2007 he was head of Morgan Stanley’s Institutional Equity Division. He joined Morgan Stanley in 1985 as a summer associate and held various positions.

Marcel Rohner, group CEO for UBS commented, “While this has been a difficult time for the investment bank, because of the losses in fixed income, we have continued to see strong performances in both our equities and our investment banking divisions. I am confident that under Jerker’s leadership we will build on this performance and strengthen our position further in all areas.”

Johansson said, “The current turbulence in financial markets represents a challenge, but also a huge opportunity for well run firms, and I look forward to leading UBS’s investment bank to a prosperous future.”

At the same time, to strengthen its management structure, UBS announced several appointments to its group executive board.