UBS hires ex-JP Morgan executive as real estate head

UBS Asset Management has hired Joseph Azelby as head of its real estate and private markets business.

Azelby (pictured) spent 18 years as chief executive of JP Morgan’s Global Real Assets Investment Group. Most recently, he was senior partner and head of real assets at Apollo Global Management.

He succeeds Thomas Wels, who has been appointed divisional vice-chairman for UBS asset management, focusing on the infrastructure and agriculture sectors.

Ulrich Koerner, president of UBS Asset Management, commented: “Joe brings extensive experience in establishing and growing global businesses. His appointment reflects our commitment to further expand our