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UBS manager appointed to financial watchdog

The UBS manager who last year apologised for the bank's assistance to tax evaders in the United States will sit on the board of Finma, the Swiss financial regulator.

Mark Branson will head the division for banks at Finma as of January 1, the body said in a statement on Tuesday.

Branson, a British citizen, apologised in 2008 to a US Senate panel for UBS's assistance to US tax evaders and said the bank would accelerate its withdrawal from certain businesses in the US.

He was the chief financial officer of the bank's global wealth management and business banking divisions at the time.

Branson has worked for UBS for more than 11 years.

In a separate announcement, UBS said it had appointed Robert McCann head of its North American wealth management business. and agencies