UBS has hired a new vice chairman of the Americas after the head of investment banking in the region and the co-head of US mergers and acquisitions both left the Swiss bank last week.

Jim Forbes' appointment to the role was announced in a memo signed by Bob McCann, chief executive of UBS Group Americas and Carsten Kengeter, chief executive of UBS Investment Bank. As vice chairman of UBS Group Americas Forbes will report to McCann and Brian Hull, head of strategic clients and partnerships.