– SWITZERLAND, Zurich – UBS (NYSE: UBS | SWX: UBSN) today announced that following more than ten successful years in the Group Executive Board, Ulrich Koerner has decided to step down from his current roles as President Asset Management and President UBS Europe, Middle East and Africa. He will remain with UBS as senior advisor to the Group CEO until at least 31 March 2020 to support the Group with several ongoing key initiatives.
Group CEO Sergio P. Ermotti commented: “I want to thank Ueli for his significant contribution to our successful strategic transformation and its execution after the financial crisis.”
Consequently, the group announced new appointments effective 1st October 2019:
Suni Harford will join the Group Executive Board of UBS and succeed Ulrich Koerner as President Asset Management. Harford joined UBS in 2017 in her current role as Head of Investments for UBS Asset Management. She is a strong leader with an excellent track record and broad experience across the industry, including research, client coverage and risk management. During her time at UBS she has successfully led Asset Management’s integrated Investments capabilities, driving performance for its clients. Harford joined UBS following a 24-year career at Citigroup Inc., the last nine of which she was the Regional Head of Markets for North America. She started her Wall Street career at Merrill Lynch & Co. in investment banking.
Iqbal Khan will join UBS and succeed Martin Blessing as Co-President Global Wealth Management, alongside Tom Naratil. Khan was CEO of International Wealth Management (IWM) and a member of the executive board at Credit Suisse from 2015 to 2019. During this time he successfully transformed the firm’s international wealth management division and drove strong growth and profitability in the business. Khan served as CFO of Private Banking and Wealth Management at Credit Suisse from 2013 to 2015. Prior to that he was with Ernst & Young, Switzerland, in various positions including Managing Partner Assurance and Advisory Services − Financial Services.
Sabine Keller-Busse will succeed Koerner as President UBS Europe, Middle East and Africa in addition to her current role as Group Chief Operating Officer (COO). Since being named Group COO in January 2018, Keller-Busse has overseen significant parts of Corporate Center (including global functions such as technology, operations, human resources, and corporate and consulting services) and has been pivotal in implementing stronger business alignment while driving efficiency and effectiveness. Keller-Busse joined UBS in 2010, first holding the role of Chief Operating Officer UBS Switzerland and then Group Head Human Resources. Prior to UBS, she led Credit Suisse’s Private Clients business for region Zurich and also advised financial services firms across Europe as a McKinsey & Company partner.
Group Chief Executive Officer Sergio P. Ermotti continued: “I congratulate Sabine on the expansion of her role. And I’m looking forward to having Suni and Iqbal join the Group Executive Board. Both of them bring strong leadership and people skills along with a track record of successful execution. They are great additions to the team and will help us drive sustainable growth and profitability for UBS.”
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