UBS has nominated Colm Kelleher to take over from Axel Weber as chairman of the Swiss bank - the world's biggest wealth manager.
This content was published on
1 minute
Keystone-SDA/Reuters/sb
The board of directors also nominated Lukas Gahwiler as vice chairman, UBS said in a statementExternal link on Saturday. Shareholders must now approve the decision at the UBS annual general meeting on April 6, 2022.
If elected, Kelleher will succeed Axel Weber, who will have reached the maximum term limit after ten years in office and will thus not stand for re-election.
“With Colm Kelleher’s nomination, UBS is pleased to propose a board member and future chairman who has a deep understanding of the global banking landscape,” outgoing chairman Axel Weber said in a statement.
“His more than 30 years of leadership experience in banking and excellent relationships around the world make Colm an ideal fit for UBS,” Weber said.
Kelleher, 64, retired from his post as Morgan Stanley president in June 2019 after three decades at the US investment bank but stayed on as a special adviser.
Ralph Hamers was brought in as UBS CEO last November to improve its digital services and streamline management and decision-making.
In October, UBS posted its highest quarterly profit since 2015 as robust trading activity by the world’s ultra-wealthy led to a 23% surge in fee income.
More
More
UBS wealth business booms but are risks piling up?
This content was published on
The $3.6-trillion UBS division has to prove it can keep growing once all the low-hanging fruit has been picked.
Switzerland abstains from vote on Palestinian bid for full UN membership
This content was published on
On Friday, Switzerland abstained from the vote at the General Assembly on granting the Palestinians new rights at the United Nations (UN).
Protein in abdominal fat could help shape obesity treatment
This content was published on
The study analysed fat cells from different locations in the body, and found that those in the abdomen have unique properties.
North African asylum claims fall after rapid Swiss processing
This content was published on
The accelerated procedure, now out of its test phase, has resulted in a significant drop in applications from North African countries.
This content was published on
The artist's song "The Code" focuses on their journey as a nonbinary individual. It is one of the favourites to win this year's contest.
Swiss climate activists block vehicles near Gotthard tunnel
This content was published on
Around ten climate activists briefly blocked the A2 motorway near the northern entrance of the Gotthard tunnel on Thursday.
UBS boss says Switzerland is falling behind on structural change
This content was published on
Swiss banks have some catching up to do when it comes to structural change and digitalisation, says Ralph Hamers, CEO of Swiss bank UBS.
Credit Suisse plots comeback after ‘costly mistakes’ took it to the brink
This content was published on
New chair António Horta-Osório will look to overhaul bank’s risk management culture after the Greensill and Archegos failures.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.