ZURICH, June 12 (Reuters) – UBS (UBSG.S) adopted up the announcement it had closed the takeover of stricken rival Credit score Suisse (CSGN.S) on Monday with a raft of administration modifications.
Listed here are the highlights:
OUT
Leaving the corporate:
* Credit score Suisse Normal Counsel Markus Diethelm. The financial institution seemed to be extra keen to settle authorized issues throughout his tenure in contrast together with his predecessor Romeo Cerutti, whom he changed in April 2022.
* Chief Monetary Officer Dixit Joshi. He was employed from Deutsche Financial institution in August 2022.
* CEO Asia Pacific Area Edwin Low. He performed a task in Credit score Suisse’s enlargement in China.
* David Miller, World Head of IBCM and Credit score, Co-head of funding financial institution, and Americas CEO.
* Ken Pang, Co-head of markets. A key determine of Credit score Suisse in Asia, Hong Kong-based banker Pang had been promoted to the position in October 2022.
TRADING PLACES
Stepping down from the chief board and transferring to new roles:
* Francesco De Ferrari turns into senior advisor to Iqbal Khan, president of UBS World Wealth Administration. The Swiss-Italian nationwide returned to Credit score Suisse in January 2022 as head of its wealth administration division after a stint main Australian wealth administration firm AMP.
* Joanne Hannaford turns into Head of Wealth Administration U.S. Know-how, reporting to Mike Dargan, UBS Group Chief Operations and Know-how Officer.
* David Wildermuth turns into Chief Danger Officer for the Americas and for the mixed U.S. Operations, reporting to Christian Bluhm, UBS Group Chief Danger Officer.
NEWCOMERS
Appointments to the chief board of Credit score Suisse AG:
* Michael Ebert – turns into Head of Credit score Suisse for the funding financial institution, and head of Americas for the funding financial institution at UBS. Not too long ago he was co-head of markets and co-head of the funding financial institution.
* Simon Grimwood – turns into CFO of Credit score Suisse AG. Beforehand he was international head of tax and finance change on the financial institution.
* Isabelle Hennebelle – turns into Head of Credit score Suisse Operations, switching from her earlier position as head of world operations on the financial institution.
* Claude Honegger – turns into Credit score Suisse Chief Know-how Officer.
* Mike Rongetti – turns into CEO Credit score Suisse Asset Administration. The business veteran can have spent his total 30 yr profession on the mixed agency, together with his preliminary five- yr stint at UBS.
* Jake Scrivens – turns into Normal Counsel along with his position as UBS Head World Litigation.
* Yves-Alain Sommerhalder – made Head of Wealth Administration and head of EMEA for Credit score Suisse. He returns to the financial institution after leaving in October final yr.
* Damian Vogel – turns into Chief Danger Officer for Credit score Suisse AG, along with his present position as Head of Danger Integration for UBS Group.
STAYING PUT
The next executives will proceed of their present roles for Credit score Suisse AG.
* Christine Graeff – the previous European Central Financial institution communications director stays as Head of Human Sources.
* Andre Helfenstein – continues as CEO Swiss financial institution, the jewel within the Credit score Suisse enterprise whose future UBS is at present contemplating.
* Francesca McDonagh – stays as Chief Working Officer.
* Nita Patel – the previous Goldman Sachs banker continues as Chief Compliance Officer, a task she took on in November 2022.
Reporting by John Revill
Enhancing by Tomasz Janowski
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