The Swiss bank UBS announced changes to its executive board on Wednesday as it moves ahead with its integration of its rival Credit Suisse.
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Switzerland’s biggest bank appointed Aleksandar Ivanovic as head of its asset management business, replacing Suni Harford, who has decided to retire, the bank said in a statement on Wednesday.
Beatriz Martin Jimenez, already a member of the executive board, will become responsible for a new area: sustainability and impact.
Aleksandar Ivanovic joined UBS in 1992 as an apprentice and has also held various positions at Credit Suisse and Morgan Stanley during his career. He was most recently in charge of client coverage and responsible for the Europe, Africa and Middle East (EMEA) regions as well as Switzerland for the asset management business.
Beatriz Martin Jimenez has been a member of the executive board since May 2023 as Head of Non-Core and Legacy, the non-viable activities of the former Credit Suisse that UBS wishes to dispose of, and president of the Europe, Middle East, Africa (EMEA) and Great Britain region.
They come as UBS continues its integration of Credit Suisse, which UBS bought for CHF3 billion ($3.46 billion) in an emergency rescue last year.
Integrating the two rival banks is a huge, multi-year task that will mean thousands of job losses in Switzerland and elsewhere and create a single financial institution with a balance sheet around double the size of the Swiss economy.
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