UBS Announces Changes to Group Executive Board
December 14 2017 - 12:15AM
Business Wire
Martin Blessing appointed President Wealth
ManagementAxel P. Lehmann appointed President Personal &
Corporate Banking and President UBS SwitzerlandSabine
Keller-Busse appointed Group Chief Operating Officer. Group Chief
Operating Office expanded to include Group Human Resources
functionJürg Zeltner to step down from Group Executive Board
at year-endChanges effective 1 January 2018
Regulatory News:
The UBS Group AG (NYSE:UBS) (SWX:UBSN) / ISIN: CH0024899483
Board of Directors has approved the following changes to the Group
Executive Board (GEB), the firm's most senior management body.
Martin Blessing, currently President Personal &
Corporate Banking and President UBS Switzerland, will become
President Wealth Management. Blessing has successfully run the
business of UBS in Switzerland since September 2016, achieving
strong financial results and record new client growth in a negative
rates environment. He has also taken the digital strategy of the
business to the next level. Prior to UBS, Blessing spent 15 years
on the Board of Managing Directors of Commerzbank, half of which
were as its Chairman.
He succeeds Jürg Zeltner, who will step down from the GEB
at the end of this year and retire from the firm in 2018. Zeltner
has been responsible for the Wealth Management business of UBS
outside of North America and a member of the GEB for the past nine
years. During that time, UBS regained its position as the leading
international wealth manager and increased profitability through
challenging market conditions. He repositioned the business by
increasing its leadership in Asia Pacific and with Ultra High Net
Worth clients and drove innovation by expanding investment
capabilities and rolling out a single technology platform covering
the majority of client assets. Zeltner is a veteran of UBS, having
served the firm for over 30 years. He joined Swiss Bank Corporation
as an apprentice in 1984.
Axel P. Lehmann, currently Group Chief Operating Officer,
will succeed Martin Blessing as President Personal & Corporate
Banking and President UBS Switzerland. Lehmann has made significant
progress in streamlining the operations of UBS since his
appointment two years ago. Prior to becoming Group Chief Operating
Officer, Lehmann was a member of the Board of Directors of UBS for
more than six years and spent nearly 20 years at Zurich Insurance
Group, 14 of which were on its Group Executive Committee in various
roles including responsibility for the insurer's European and North
American business.
Sabine Keller-Busse will take on the role of Group Chief
Operating Officer from Lehmann and the Group Chief Operating Office
will be expanded to include the Group Human Resources (HR)
function. Keller-Busse has transformed HR at UBS since assuming
responsibility for it in August 2014, achieving substantial
efficiency gains while improving service delivery and revitalizing
talent development. She was Chief Operating Officer of UBS
Switzerland for four years prior to her current role, joined the
firm in 2010 and has been a member of the GEB since 2016.
"I congratulate Sabine, Axel and Martin on their new roles.
They've delivered excellent results and I'm convinced that their
broad leadership skills will allow us to continue to deliver on our
targets and capture future opportunities," said Group Chief
Executive Officer Sergio P. Ermotti. "I'd also like to thank Jürg
for his outstanding contributions to UBS during more than 30 years
of service. His impact on the positive development of our
international wealth management business and the firm over the past
years deserves particular recognition and I wish him all the
best."
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