UBS appointed a handful of bankers to run its retooled investment bank, days after the Swiss bank announced a sweeping overhaul that will sharply decrease the risk and size of the division.

Under pressure from depressed financial markets and a series of costly trading missteps, UBS announced Tuesday that it is largely exiting fixed income trading and will focus on equities and other businesses that can support its sprawling wealth management operation. As part of the new structure, the investment bank will be split into two divisions, one known as Investor Client Services and the other called Corporate Client Solutions.