It is understood that UBS is not seeking an immediate replacement.
The remaining senior members of the UK retail team include John Shepherd, head of UK retail discretionary sales, Warren Tonkinson, head of UK strategic alliances,and Rob Lay, head of wholesale, Europe and the Middle East.
Kane set up the UK retail side of UBS Global Asset Management when he joined in 2001. It has nearly £1 billion under management in the UK.
Kane was head of business development at Old Mutual Asset Managers before joining UBS. He previously worked at Morgan Grenfell, Societe Generale, Touche Remnant and Laurentian Unit Trust Management.
Darius McDermott, managing director of Chelsea Financial Services, says: “Kane’s contribution to UBS has been huge, as he launched the retail side of the business in the UK. He will be hard to replace and UBS will struggle to find someone of his quality.”
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