Colm Kelleher, 64, retired from his post as Morgan Stanley president in June 2019 after three decades at the US investment bank.
Keystone / Str
UBS has nominated Colm Kelleher to take over from Axel Weber as chairman of the Swiss bank - the world's biggest wealth manager.
This content was published on
1 minute
Keystone-SDA/Reuters/sb
The board of directors also nominated Lukas Gahwiler as vice chairman, UBS said in a statementExternal link on Saturday. Shareholders must now approve the decision at the UBS annual general meeting on April 6, 2022.
If elected, Kelleher will succeed Axel Weber, who will have reached the maximum term limit after ten years in office and will thus not stand for re-election.
“With Colm Kelleher’s nomination, UBS is pleased to propose a board member and future chairman who has a deep understanding of the global banking landscape,” outgoing chairman Axel Weber said in a statement.
“His more than 30 years of leadership experience in banking and excellent relationships around the world make Colm an ideal fit for UBS,” Weber said.
Kelleher, 64, retired from his post as Morgan Stanley president in June 2019 after three decades at the US investment bank but stayed on as a special adviser.
Ralph Hamers was brought in as UBS CEO last November to improve its digital services and streamline management and decision-making.
In October, UBS posted its highest quarterly profit since 2015 as robust trading activity by the world’s ultra-wealthy led to a 23% surge in fee income.
More
More
UBS wealth business booms but are risks piling up?
This content was published on
The $3.6-trillion UBS division has to prove it can keep growing once all the low-hanging fruit has been picked.
Should raw milk sales be banned or should consumers decide?
Swiss food regulations do not allow raw milk to be sold for direct consumption. However, a loophole allows 400 raw milk vending machines to do just that.
AI can reduce the number of animals needed for research
This content was published on
Swiss researchers have developed a new, AI-supported method that analyses the behaviour of mice in the laboratory more efficiently.
Geneva Conventions conference on Middle East scheduled for March 2025
This content was published on
The conference on the Middle East of the 196 States party to the Geneva Conventions, organised by Switzerland, will take place in Geneva in March.
Swiss university graduates are popular hires worldwide
This content was published on
Graduates of Swiss universities are popular with international employers, according to the Global Employability University Rankings.
French cross-border workers in Switzerland fear ‘discriminatory’ unemployment reform
This content was published on
In the French region around Geneva, cross-border workers are protesting proposals to cut unemployment benefits for those working in Switzerland.
UBS boss says Switzerland is falling behind on structural change
This content was published on
Swiss banks have some catching up to do when it comes to structural change and digitalisation, says Ralph Hamers, CEO of Swiss bank UBS.
Credit Suisse plots comeback after ‘costly mistakes’ took it to the brink
This content was published on
New chair António Horta-Osório will look to overhaul bank’s risk management culture after the Greensill and Archegos failures.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.