Lofts, who joined UBS in 1984, became CEO of UBS Group Americas in January 2011, having been group CRO between November 2008 and December 2010.
Lofts’ role as head of the Americas unit will be assumed by Robert J McCann, who will remain in his current position as CEO of Wealth Management Americas.
UBS said Ulrich Korner, who joined UBS in 2009, will take over the role of CEO UBS Group Europe, Middle East and Africa in addition to his current role as Ggoup COO and CEO of Corporate Center.
The changes are the first management rearrangement since the trading scandal that cost the Swiss bank $2.3bn in September 2011.
