Swiss banking giant UBS announced on Saturday that its board has chosen former Morgan Stanley chairman Colm Kelleher as its next chairman, replacing Axel Weber who has held the post for nearly a decade.
“
The board of directors of UBS Group AG will nominate Colm Kelleher as the new chairman of the board (...) at the annual general meeting on April 6, 2022,
” the bank said in a statement.
If elected, Colm Kelleher - who stepped down as Morgan Stanley chairman in June 2019 after three decades at the U.S. investment bank - will succeed Axel Weber, a former Bundesbank executive, who took over the chairmanship. of the largest Swiss bank in 2012. Axel Weber "
will have reached the maximum term of office after 10 years in office and will therefore not stand for re-election,
" UBS said.
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The former leader considered Colm Kelleher an "
ideal candidate
", due to "
his more than 30 years of management experience in the banking industry and his excellent relationships around the world
". Ralph Hamers, managing director of UBS for a year, said Colm Kelleher, a 64-year-old Irishman, would bring "
valuable banking expertise to the board
", saying he was "
looking forward to working with him. him
”.
“
Being able to help shape the future of banking (UBS) is a great privilege,
” said Colm Kelleher.
The board of directors of UBS also chose on Saturday Lukas Gahwiler, the current president of the Swiss division, for the post of global vice-president.