Dugenske has been at the group four years and was previously head of North American fixed income for the group. He will become a member of the firm’s executive committee, reporting to John Fraser, chairman and CEO.
Prior to joining UBS, Dugenske was head of European and Middle East fixed income at Lehman Brothers, where he also managed the cash management business. He has also spent time at Deutsche Bank.
Gambi is leaving the firm after seven years. He had no direct fund management responsibilities. He had previously worked at Henderson Global Investors. The group also lost two senior portfolio managers last year when Alix Stewart, head of UK fixed income and Konstantin Leidman left to join Schroders.