Swiss bank UBS' Sfr20.2bn (€12.8bn) pension fund has hired Christoph Schenk from Credit Suisse Asset Management as its new managing director, following the retirement of Françoise Romanoff.

Schenk, who is currently global head of multi-asset solutions at Credit Suisse in Zurich, will start this September. Romanoff exits the fund six months later, on April 1 next year.