It was announced today that we have a new president of UBS, Irishman Colm Kelleher, who had previously spent 30 years at Morgan Stanley. In addition to Kelleher, names such as Philipp Hildebrand, the former head of the Swiss National Bank, or Jean Pierre Mustier, the former head of UniCredit, have also appeared on the list in the past.
Ralph Hamers, head of UBS, said of the appointment that Kelleher would bring great expertise to the bank’s board and looked forward to working with him to reshape the future of the Swiss bank.
Back in 1989, Kelleher joined Morgan Stanley’s London office, where he first ran the bond trading business and then moved to New York, first as a CFO and then as president. He said goodbye to the presidency of Morgan Stanley in March 2019 and has only been involved in the life of the bank as an external consultant.
The head of UBS wants to strengthen the digitalisation foot at the bank, and the digital asset management service for premium customers may be launched in America early next year. The Swiss big bank has so far benefited a lot from being the largest asset manager in the market, with a strong Asian presence, but the series of scandals by its big rival, Credit Suisse, did not hurt either.
It seems this is the period of the bank’s presidential election in Europe, with Deutche Bank appointing Alex Wynaendts as president from next year on Friday.
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Source: Portfolio.hu – Bank by www.portfolio.hu.
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