Dow Jones

NEW YORK - UBS PaineWebber Inc. president and chief executive Joseph Grano was named to the additional post of chairman, succeeding Donald Marron.

Marcel Ospel, the chairman of UBS AG said in an internal memo Wednesday that Mr. Marron has the new title of chairman of UBS America. Mr. Marron will be a senior advisor to Mr. Ospel on key developments affecting the firm in the region and will also be responsible for the firm's public policy initiatives in the Americas.

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