NEW YORK - Mitchell Hutchins Asset Management Inc., the investment management subsidiary of PaineWebber, has been renamed Brinson Advisors Inc. and put under the direct control of UBS Asset Management, whose parent company, the Swiss bank UBS, bought PaineWebber in November.

Brinson Advisors will be headquartered in New York and focus on delivering investment products and services to the wholesale intermediary market.

Brian M. Storms, president and chief executive officer of Mitchell Hutchins, will be president of Brinson Advisors.

The new name was announced Tuesday.

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