UBS AG has realigned its asset management division to focus its wholesaling efforts on the intermediary market — banks, financial planners, financial planning broker-dealers, insurance companies, and Web sites.

In the realignment, which was done last week, Mitchell Hutchins Asset Management, which had been the investment management subsidiary of PaineWebber Inc., was combined with a portion of UBS’ Brinson Partners unit, renamed Brinson Advisors Inc., and brought under the supervision of UBS Asset Management.

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