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☆ UBS overhauls wealth management leadership in wider board shake-up
▼ + stars: | 2024-05-30 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

The three keys USB logo is seen outside the London office of Swiss bank UBS in central London, on March 20, 2023. LONDON — UBS on Thursday announced a shake-up of its executive board in the latest phase of a radical overhaul of the Swiss banking giant, following its takeover of fallen rival Credit Suisse. It marks the first time a divisional UBS president has been based in Asia-Pacific, the bank said. George Athanasopoulos and Marco Valla also join the executive board as co-presidents of the investment bank, alongside Damian Vogel, incoming global chief risk officer. The trio replace outgoing board members Credit Suisse CEO Ulrich Korner, UBS Asia-Pacific President Edmund Koh, and UBS Americas Regional President Naureen Hassan.

Persons: Iqbal Khan, Rob Karofsky, Sergio Ermotti, Ermotti, George Athanasopoulos, Marco Valla, Damian Vogel, Ulrich Korner, Edmund Koh, Naureen Hassan Organizations: UBS, LONDON, Credit Suisse, Group, Credit, UBS Americas, Swiss Locations: London, Swiss, Asia, Pacific, U.S, Americas, UBS Asia

MADISON, Wis. (AP) — The Wisconsin Supreme Court on Friday agreed to hear Democratic Gov. Tony Evers' lawsuit against the Republican-controlled Legislature arguing that it is obstructing basic government functions. The court's liberal majority agreed to hear the case, with the three conservative justices dissenting. The court only agreed to immediately hear one of the three issues Evers brought forward in the complaint. The Legislature convened a lame duck session just weeks before Evers took office to weaken the incoming governor’s powers.

Persons: Tony Evers, Evers, Janet Protasiewicz, Rebecca Dallet, Jill Karofsky, Ann Walsh Bradley, Annette Ziegler, Brian Hagedorn, Rebecca Bradley, ” Evers, Knowles, Devin LeMahieu Organizations: Wisconsin Supreme, Democratic, Republican, University of Wisconsin, Conservative, Legislature, Wisconsin Department of Natural Resources, Nelson Stewardship Program, Republicans, GOP, Natural Resources Board Locations: MADISON, Wis, Wisconsin

The state Democratic Party has given liberal Justice Jill Karofsky's campaign more than $1.3 million. In Wisconsin, there is no requirement that justices step down from hearing cases involving campaign donors. Those threats were denounced by Wisconsin Democratic Party Chair Ben Wikler as “political extortion." She also cited Democratic Party campaign donations and the campaign comments. The Democratic Party did not bring either of the pending redistricting cases, even though Democrats would benefit from new maps being drawn.

Persons: she's, Ann Walsh Bradley —, Brian Hagedorn, Rebecca Bradley, Jill Karofsky's, ”, Jay Heck, “, Heck, Brennan, Janet Protasiewicz, Dan Kelly, Joe Biden, Tony Evers, Protasiewicz, Robin Vos, Protasiewicz doesn't, Vos, Ben Wikler, Annette Ziegler, Ziegler, Michael Gableman, recusing, Bradley, ” Protasiewicz Organizations: —, — Wisconsin Republicans, Democratic Party, Wisconsin Democracy, Republican Party, Wisconsin Supreme, Brennan Center for Justice, Wisconsin Democratic Party, Republican, Republicans, Gov, Democratic, GOP, Wisconsin Judicial Commission, Wisconsin Democratic, Wisconsin Manufacturers, Commerce, Conservative, United, Constitution Locations: MADISON, Wis, — Wisconsin, Wisconsin, In Wisconsin

☆ UBS just reshuffled its leadership ranks after buying Credit Suisse. See the new power players in charge of the $1.7 trillion Swiss banking behemoth.
▼ + stars: | 2023-06-12 | by ( Michelle Abrego | Kaja Whitehouse | ) www.businessinsider.com time to read: +11 min

The merger between Credit Suisse and UBS creates a new Swiss banking behemoth with $1.7 trillion in assets. Investment bank leadersThe president of UBS's investment bank, Robert Karofsky, circulated a memo on Monday announcing his new leadership team. Ebert, co-head of markets at Credit Suisse, was also named head of Credit Suisse for the Investment Bank, reporting to Karofsky. UBS global wealth management president Iqbal Khan revealed the appointments to its critical wealth business in an internal memo titled "Becoming a global wealth powerhouse." Members of the current Credit Suisse wealth management leadership team will report to both Yves-Alain and to their respective UBS global wealth management regional leader.

Persons: Yves, Alain Sommerhalder, Michael Ebert, Robert Karofsky, Ebert, Karofsky, Marco Valla, Valla, Javier Oficialdegui, Mike, I've, George Athanasopoulos, Jason Barron, Ros L'Esperance, Dan Dowd, Taichi Takahashi, Chris Leone, Julie Beavan, Tricia Hazelwood, Jeff Hinton, Kurt Anthony, Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Iqbal Khan, Francesco De Ferrari, Khan, Reuters Yves, Alain, Wiwi Gutmannsbauer, Benjamin Cavalli, Cavalli, Kinner, Amy Lo, Jin Yee Young, Young, Hatecke, UBS's Anton Simonet, Christl, Jason Chandler, Sergio Ermotti, Ralph Hamers, Ermotti, MICHELE LIMINA, Todd Tuckner, Sarah Youngwood, Michelle Bereaux, Stefan Seiler, Christian Bluhm, Damian Vogel, Ulrich Körner Organizations: UBS, Credit Suisse, Suisse, Credit, Wall Street, Investment, Investment Bank, Barclays, Global Banking, Investment Bank Management, Global Markets, Global Research, IB, Resource Management, Staff, MUFG Securities, Reuters, Yves, Deutsche, Switzerland, Swiss Re, Getty Locations: Switzerland's, Swiss, Americas, Asia, Singapore, Switzerland, Europe, Middle East, Africa, America, AFP

Besides Koerner, who spent over a decade at UBS before returning to Credit Suisse in 2021, UBS CEO Sergio Ermotti largely leaned on UBS executives in pulling together his new team. Commenting on Koerner's future role, UBS said Koerner would be responsible for Credit Suisse's operational continuity and client focus, while supporting its integration. Credit Suisse executive board members will report to both their relevant UBS executive board member and Koerner. Reuters reported last week that options under consideration for that business include a sale or an initial public offering of Credit Suisse's domestic unit. “This is a pivotal moment for UBS, Credit Suisse and the entire banking industry," Ermotti said in the statement.

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