UBS on Friday said it has appointed Philip Lofts as chief executive officer of its Americas region and named Maureen Miskovic as group chief risk officer, from January 2011, in another bid to strengthen management.

UBS's decision to split the role of chairman and chief executive for the Americas reflects the growing importance of the region for the bank. Robert Wolf, who previously held both roles, will remain chairman of the Americas and president of the investment bank but will step down from the UBS group executive board.