UBS' top lawyer at its wealth management arm is leaving the bank, finews.asia has learned. She is a fierce advocate for diversity in the male-dominated financial sector.

Maria Leistner, general counsel of UBS' $2.26 trillion private banking arm, is leaving UBS, a source familiar with the matter told finews.asia. A spokesman for the bank confirmed her exit, saying that Leistner is taking on a challenge outside UBS. Leistner didn't comment to finews.asia.

She is an UBS group management director, an elite squad of  company's top 100 bankers who report directly to top management under CEO Sergio Ermotti. Besides her day job, she is a passionate advocate for diversity and inclusion in finance, telling finews.ch (interview in German) last year that top management acts differently when women are included: «very efficiently, very directly. We express our opinions clearly. We have a fantastic atmosphere.»

French Criminal Trial

Leistner is to be replaced by Michael Crowl, currently UBS private bank's chief lawyer in the Americas, according to a memorandum seen by finews.asia. Unlike Leistner, who is based in Switzerland, Crowl will continue to be based in New York.

UBS' biggest legal problem at the moment is a high-stakes French criminal trial, in which the bank already suffered several major setbacks, as finews.asia reportedCrowl will be backed up by David Kelly, who is currently UBS' main lawyer for transactions and disclosure.