Merz Taps Ex-UBS Banker Blessing as New German Investment Czar

(Bloomberg) — German Chancellor Friedrich Merz appointed former UBS Group AG executive Martin Blessing to a new role as his personal representative for boosting foreign investment in Germany.

Blessing, 62, worked for UBS between 2016 and 2019 and was a co-head of its global wealth management unit before taking the role of chairman at Danske Bank A/S in 2022. Before joining UBS, he was chief executive officer of Commerzbank AG.

His job with the German government — which he’ll start Oct. 1 in addition to his current roles and for the symbolic salary of €1 ($1.18) — will be to act as a point person to help bring foreign investment to Europe’s biggest economy, officials said Monday.

“He will target international investors, communicate Germany’s strengths as an investment location, and thus contribute to attracting more international investors,” the government said in an emailed statement.

“In doing so, he’ll work closely with the relevant federal ministries and economic development agencies,” it added.

Blessing will also take over as supervisory board chairman of Germany Trade & Invest, the country’s economic development agency that is overseen by Economy Minister Katherina Reiche.

“As the personal representative for investments in Germany, Martin Blessing will leverage his excellent contacts in the international business and financial world and his outstanding reputation to ensure new investment strength,” Merz said.

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