(Bloomberg) -- UBS named Roger Naylor and Robert Karofsky co-heads of global equities at its investment bank, replacing Mike Stewart who is moving to wealth management.

Karofsky, 47, who is joining from AllianceBernstein Holding LP in December, and Naylor, currently head of global equity derivatives at UBS, will assume their new roles at the start of next year, according to staff memos from Juerg Zeltner and Andrea Orcel, the heads of wealth management and the investment bank, respectively.

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