UBS Reshuffles Executive Board Following Vice Chair Nomination
Swiss-based banking giant UBS has announced changes to its executive board, which include the appointments of compliance and operations heads.
UBS has announced a series of changes to its executive board, following the nomination of group chief compliance and governance officer Markus Ronner as vice chairman.
Michelle Bereaux, UBS (Image: Newsroom Gallery)
Group chief integration officer Michelle Bereaux will relinquish her existing role and become group head compliance and operational risk control. The bank said she «enabled remarkable progress» in the integration of Credit Suisse, which is expected to be completed by the end of 2026, including client migrations outside of Switzerland and the transfer of about two-thirds of clients in Switzerland.
Bea Martin, UBS (Image: Newsroom Gallery)
Head of non-core and legacy Beatriz Martin has also been named group chief operating officer. The role will include her current responsibilities as sustainability and impact lead and head of non-core and legacy, as well as new responsibilities for the finalization of the integration of Credit Suisse, group operations and the internal consulting and governance teams. She will also continue to act as EMEA president and UK chief.
Tech, Governmental Affairs and Security
Mike Dargan, UBS (Image: Newsroom Gallery)
In his role as group chief technology officer, Mike Dargan will focus on evolving the bank's tech platforms and ensuring they remain «efficient, resilient and targeted at the organization’s evolving needs». In addition, he will direct more efforts to capture opportunities from rapid technological change, including in AI and digital assets.
Shaping the Firm
Todd Tuckner, UBS (Image: Newsroom Gallery)
The responsibilities for governmental and regulatory affairs will be transferred to group CFO Todd Tuckner. Group security will be integrated into the group human resources and corporate services organization led by Stefan Seiler.
Stefan Seiler, UBS (Image: SFI)
«I congratulate all the colleagues on their new responsibilities. With these changes, UBS is ideally positioned to complete the integration, focus on growth opportunities, and continue to deliver in the best interest of all our key stakeholders,» UBS CEO Sergio Ermotti said.
