UBS announces changes to group executive board

UBS announced the next significant milestones in UBS‘s integration of Credit Suisse are the merger of UBS AG and Credit Suisse AG, which takes place on May 31, and the move to a single Intermediate Holding Company in the U.S. in June. UBS announces the following changes to its Group Executive Board, effective July 1: Iqbal Khan will assume the role of President UBS Asia-Pacific, effective 1 September 2024, and become Co-President GWM. Rob Karofsky will become President UBS Americas and Co-President GWM. George Athanasopoulos and Marco Valla will join the GEB as Co-Presidents of the Investment Bank. Damian Vogel will be appointed Group Chief Risk Officer and become a member of the GEB, succeeding Christian Bluhm. Stefan Seiler, Head Group Human Resources and Corporate Services, will expand his responsibility to include Group Communications and Branding led by Marsha Askins. Ulrich Korner, CEO of Credit Suisse AG, will step down from the GEB at the end of June following the merger of the parent banks UBS AG and Credit Suisse AG. He will retire from UBS later this year. Edmund Koh, President UBS Asia-Pacific, will step-down from the GEB effective September 1. Naureen Hassan, Regional President UBS Americas, has decided to retire from UBS, effective July 1.