UBS Names Robert McCann As Chairman UBS Americas - Quick Facts

(RTTNews) - Swiss financial services giant UBS Group AG (UBS) announced changes to its Group Executive Board or GEB and to its board of directors. All changes are effective 1 January 2016.

UBS said that Robert McCann will take on a new role as Chairman UBS Americas, where he will focus on clients and strategic priorities across the region. This follows his decision to step down from his current roles as President Wealth Management Americas and President UBS Americas as well as the GEB. He will step down from the GEB at year end.

Tom Naratil, currently Group Chief Financial Officer and Group Chief Operating Officer, will succeed McCann as President Wealth Management Americas and President UBS Americas on the GEB.

Axel Lehmann has been named as new group Chief Operating Officer. Lehmann will join the GEB and step down from the role he has held as a member of the Board of Directors of UBS since 2009. Kirt Gardner, currently Chief Financial Officer of Wealth Management, will become Group Chief Financial Officer and a member of the GEB.

Following over 30 years with UBS, Group Chief Risk Officer Philip Lofts has decided to step down from his current role and the GEB at the end of the year. He will be succeeded on the GEB by Christian Bluhm, who joins UBS from FMS Wertmanagement, the German government institution established to wind down risk positions formerly belonging to the nationalized Hypo Real Estate Holding AG.

After nearly seven years as President UBS Asia Pacific, Chi-Won Yoon has decided to step down from his current role and the GEB at the end of the year. Yoon will be succeeded on the GEB by Kathryn Shih who has led the Wealth Management business of UBS in APAC for the past 13 years.

UBS has decided to appoint Sabine Keller-Busse, Group Head of Human Resources, to the GEB.

As Jes Staley and Axel Lehmann have stepped down from the Board of Directors, Reto Francioni will join the Risk Committee and Bill Parrett the Human Resources and Compensation Committee. Successors for Staley and Lehmann on the Board of Directors will be proposed for the next AGM to be held on 10 May 2016.