September 25, 2018 / 3:57 PM / 20 days ago

UBS appoints Novelli, Karofsky co-heads of investment bank, Orcel leaves

ZURICH, Sept 25 (Reuters) - Swiss bank UBS appointed Piero Novelli and Robert Karofsky to jointly head its investment bank as of Oct. 1 after Andrea Orcel decided to join Spanish lender Santander as chief executive.

Novelli will primarily focus on corporate client solutions and Karofsky on investor client services, the bank said in a statement on Tuesday, adding both would also join the group executive board.

Orcel had run the investment bank since 2012.

Reporting by Silke Koltrowitz; Editing by Michael Shields

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