UBS PaineWebber announced several management appointments last week.
Mark Sutton, head of the firm's U.S. Private Client Group, was named president and COO of UBS PaineWebber. The promotion is not to replace anyone, but is in recognition of Sutton's past work and additional responsibilities with the firm, according to a spokesman. In addition to keeping his responsibilities involving the U.S. Private Client Group, he will assume responsibility for Correspondent Services Corp., a UBS subsidiary that provides clearance and settlement services.