Phil Casparius has a key position to fill at UBS Global Asset Management [profile].

This week Virtus revealed the hiring of UBS GAM veteran Tom Franco as managing director and divisional sales manager in the West. Franco most recently served as managing director and national sales manager for wholesale distribution in the Americas at UBS GAM.

"We are currently undergoing a search to replace him," UBS spokesman Gregg Rosenberg confirms to MFWire.

Rosenberg clarifies that Franco had reported to Casparius, who serves as managing director and head of distribution in the Americas.

In March, news broke that Blake Moore was taking over as chief of the Americas for UBS GAM, filling the shoes soon to be emptied by Shawn Lytle.

As of December 31, 2014, UBS GAM worked with $668 billion in assets under management worldwide. 

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