New chairman has worked for UBS for 40 years: UBS merges Swiss boards of UBS and CS

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Two boards of directors become one. UBS combines the boards of directors of UBS Switzerland and Credit Suisse (CS) Switzerland. This step, as the big bank announced, is part of the full integration of CS’s Swiss business into UBS.

The joint committee will oversee the integration of the two Swiss banks. At the end of August, UBS announced that it would fully integrate the Swiss business of Credit Suisse, which it had acquired, into its existing business. Both banks will continue to be managed by their own management until the legal merger in 2024.

New chairman for UBS after 40 years

The new chairman of the new board is Roger von Mentlen (63). He has been with UBS for 40 years and was head of retail banking in Switzerland for a decade. Von Mentlen has been on the board of directors of UBS Switzerland since 2020. The banker will replace Markus Ronner (58), who has chaired the board of directors of UBS Switzerland since April 2022, and Peter Derendinger, who has chaired the board of directors of Credit Suisse Switzerland since March 2019.

“For the sake of continuity” the two committees are said to continue to consist mainly of existing board members of UBS Switzerland and CS Switzerland. Derendinger now takes over as Vice President of Credit Suisse (Switzerland), while Gabi Huber (67) takes over as Vice President of UBS Switzerland. (lui/SDA)

Source :Blick