UBS Lands Wall Street Veteran as Board Member

UBS wants more of Wall Street's kudos and has selected one of its finest for the board of directors. The agenda for the general meeting reveals that an insurance specialist has also been nominated.

robert scully 160The board of directors at UBS is proposing Robert W. Scully and Dieter Wemmer for election at the annual general meeting on May 10, 2016, the company said in a statement on its Website today.

Scully (pictured left) served as a member of the office of the chairman of Morgan Stanley from 2007 to 2009 and was its co-president from 2006 to 2007, having worked at the bank in various positions since 1996. Before joining Morgan Stanley, Scully was at Lehman Brothers, Scully Brothers Foss & Wight and Salomon Brothers.

More than 25 Years at Zurich Insurance

Dieter Wemmer 160Wemmer (pictured left), joined Allianz insurance in 2012 and has been its chief financial officer since January 2013. Previously, he spent more than 25 years at Zurich Insurance, where he held various managerial positions, most recently as CFO. Wemmer is a member of the boards of Allianz Asset Management and Allianz Investment Management.

Special Dividend

UBS proposes its shareholders to increase the dividend by 20 percent to 0.6 francs per share. In addition, the board also plans to distribute a special dividend of 0.25 francs per share, reflecting a significant net upward revaluation of deferred tax assets in 2015, the company said.

 

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