Martin Blessing to join Group Executive Board of UBS
May 11 2016 - 7:20AM
Business Wire
Blessing to assume role as President Personal & Corporate
Banking and President UBS Switzerland from Lukas Gaehwiler
Gaehwiler to assume new role as Chairman of the Region
Switzerland
Changes effective 1 September 2016
Regulatory News:
Martin Blessing will succeed Lukas Gaehwiler as President
Personal & Corporate Banking and President UBS Switzerland
(NYSE:UBS) (SWX:UBSN) in the Group Executive Board (GEB) of UBS,
effective 1 September 2016. Blessing was CEO of Commerzbank AG
until the end of April this year. During his 15 years on the Board
of Managing Directors of Commerzbank, half of which as its
Chairman, Blessing significantly shaped the firm. He managed the
successful integration of Dresdner Bank and led the bank back to
stability and a robust business model following the financial
crisis. Today, Commerzbank is active in more than 50 countries,
finances 30 percent of Germany’s foreign trade and is the
undisputed leader in financing German SMEs. The firm serves around
15 million clients with over 50,000 employees. Prior to
Commerzbank, Blessing was at Dresdner Bank and the consultancy
McKinsey. He studied in St. Gallen, Switzerland, and Frankfurt am
Main, Germany, following a bank apprenticeship.
Also effective 1 September 2016, Lukas Gaehwiler will
take on a new strategic role as Chairman of the Region Switzerland,
focusing on clients and other selected mandates. At the same time
and at his own request, he will step down from his current
operative roles as President UBS Switzerland and President Personal
& Corporate Banking (P&C), as well as from the GEB. For
more than six years, Gaehwiler has run the business of UBS in
Switzerland very successfully. In that time, UBS regained its
position as the unquestioned market-leading universal bank in its
home market. He oversaw a sustained increase in profitability
during challenging market conditions, with significant new client
growth, as well as the successful digitalization of the business,
continuous improvement in customer satisfaction, and the effective
implementation of a new legal structure for UBS in Switzerland.
Group Chief Executive Officer Sergio P. Ermotti: “I thank Lukas
Gaehwiler for his excellent work and am personally pleased that he
will continue to remain close to UBS in his new role. With Martin
Blessing we gain a professional with a proven track record and
significant experience in all areas of the business for UBS. I am
certain he will further advance our business in Switzerland and
beyond.”
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