Swiss bank UBS AG has announced a restructuring of its board ahead of its merger with Credit Suisse.
The merger takes place on May 31, 2024. The changes are subject to final regulatory approval and effective mostly from July 1, 2024, UBS said on Thursday.
Iqbal Khan would assume the role of president of UBS Asia-Pacific, effective September 1, and become co-president of global wealth management.
Rob Karofsky would become president of UBS Americas and co-president of global wealth management.
George Athanasopoulos and Marco Valla would join as co-presidents of the investment bank.
Damian Vogel would be appointed group chief risk officer succeeding Christian Bluhm, who agreed to delay his retirement last year to support the firm in the first phase of the integration. Christian would remain with the firm in an advisory capacity.
Stefan Seiler, head of group human resources and corporate services, would expand his responsibility to include group communications and branding led by Marsha Askins.
Ulrich Körner, chief executive of Credit Suisse AG, would step down from the group executive board at the end of June following the merger of the parent banks UBS AG and Credit Suisse AG. He would retire from UBS later this year.
Edmund Koh, president of UBS Asia-Pacific, would step down from the group executive board effective September 1 and continue as regional chair Asia-Pacific.
Naureen Hassan, regional president of UBS Americas, has decided to retire from UBS, effective July 1.