UBS Global Asset Management has appointed Ian Barnes as its new head of UK and Ireland, to replace John Nestor, who is due to step down next year.

Barnes will chair the global asset management UK management committee and join the global asset management European management committee, effective from 30 January. 

Previously, Barnes was a senior investment consultant at Towers Perrin and Frank Russell, working with UK and continental European pension fund clients and their managers. He subsequently became head of investments at Russell, within its institutional and wholesale investment businesses in Europe, the Middle East and Africa.

Nestor has been head of UK and Ireland since February 2010, and will remain with the team for a considerable transition period. The appointment remains subject to FSA approval.