UBS makes investment bank appointments

LONDON (Reuters) - Swiss-based bank UBS AG (UBSN.VX) named Ian Gladman and Edouard de Vitry as co-heads of financial institutions (FIG) coverage for Europe, the Middle-East and Africa at its investment bank.

The two, who are already at the bank and covering financial institutions, have replaced David Soanes, who is heading up the bank's Global Capital Markets group, UBS said on Tuesday. They are based in London and report to John Cryan, the bank's global head of FIG.

Separately the bank said Philippe Sacerdot, head of European banking coverage, will become a vice chairman of the investment bank and as such will work as a senior banker with the firm's clients in the area. He will also report to Cryan.

(Reporting by Mathieu Robbins; Editing by David Holmes)