Christian Bluhm to Continue as Group Chief Risk Officer

Rhea-AI Summary

UBS announces changes in its executive team in light of the acquisition of Credit Suisse. Christian Bluhm will remain as Group Chief Risk Officer, delaying his transfer of responsibilities to Damian Vogel, who has been appointed as Group Risk Control Head of Integration. This newly formed role will focus on leading risk control integration activities and optimizing the joint Group Risk Control function of UBS and Credit Suisse. CEO Sergio P. Ermotti emphasized the importance of having both leaders actively engaged to ensure UBS is well-prepared for future challenges. The announcement also includes a cautionary note regarding forward-looking statements and associated risks that may impact UBS's future performance.

Positive

• Christian Bluhm continues as Chief Risk Officer, ensuring stability during integration.
• Damian Vogel's new role aims to enhance risk control effectiveness post-acquisition.

Negative

• None.

 

ZURICH--(BUSINESS WIRE)-- Regulatory News:

UBS (NYSE:UBS) (SWX:UBSN):

Ad hoc announcement pursuant to article 53 of the SIX Exchange Regulation Listing Rules

Due to the planned acquisition of Credit Suisse, Christian Bluhm has agreed to remain in his role as Group Chief Risk Officer and member of the Group Executive Board for the foreseeable future, therefore delaying the handover to Damian Vogel that was originally planned for 1 May.

Damian Vogel has been appointed to the newly created role of Group Risk Control Head of Integration. In this role, he will lead risk control related integration activities and define the best possible set-up for the firm’s combined Group Risk Control function.

Group Chief Executive Officer Sergio P. Ermotti: “Having both senior risk leaders actively engaged will help ensure that we’re well prepared and appropriately set up in an area that is crucial for our future success. I want to thank Christian for his readiness to continue in his role as Group CRO and Damian for his significant efforts in leading our integration efforts and designing our future risk function.”

Cautionary Statement Regarding Forward-Looking Statements

This media release contains statements that constitute “forward-looking statements,” including but not limited to management’s outlook for UBS’s financial performance, statements relating to the anticipated effect of transactions and strategic initiatives on UBS’s business and future development and goals or intentions to achieve climate, sustainability and other social objectives. While these forward-looking statements represent UBS’s judgments, expectations and objectives concerning the matters described, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from UBS’s expectations. For a discussion of the risks and uncertainties that may affect UBS's future results please refer to the "Risk Factors" and other sections of UBS’s most recent Annual Report on Form 20-F, quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K, and the cautionary statement on the last page of this presentation. UBS is not under any obligation to (and expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.

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UBS Group AG and UBS AG

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Source: UBS Group AG

FAQ

What are the recent changes in UBS's executive team related to Credit Suisse acquisition?

Christian Bluhm will remain as Chief Risk Officer while Damian Vogel takes on a new role to lead risk control integration.

Who is responsible for risk control integration at UBS?

Damian Vogel has been appointed as the Group Risk Control Head of Integration.

What did UBS's CEO say about the changes in leadership?

CEO Sergio P. Ermotti stated that having both senior risk leaders engaged is crucial for UBS's future success.

What is the impact of the delay in leadership transfer at UBS?

The delay in leadership transfer provides continuity and stability in risk management during the acquisition process.

What should investors know about UBS's forward-looking statements?

Investors should be aware of risks and uncertainties that may cause actual results to differ from UBS's expectations.