The board of UBS has nominated Colm Kelleher as its next chair and Lukas Gähwiler as vice-chair.

Kelleher is a former president of Morgan Stanley, where he oversaw both the institutional securities business and wealth management. He previously held positions including president of Morgan Stanley Institutional Securities, chief financial officer and co-head of corporate strategy, and head of global capital markets.

Gähwiler currently serves as chair of the board of UBS Switzerland AG, after having been a member of the group executive board of UBS Group AG and UBS AG and president of UBS Switzerland.

The election will take place at the UBS AGM in April 2022. If elected, Kelleher will succeed Axel A. Weber.

Weber commented: “With Colm Kelleher’s nomination, UBS is pleased to propose a board member and future chairman who has a deep understanding of the global banking landscape. His more than 30 years of leadership experience in banking and excellent relationships around the world make Colm an ideal fit for UBS. I am convinced that his background and skills will be of great value in continuing to bring the best of our firm to clients, investors, and employees.

“I am also pleased that Lukas Gähwiler has accepted the nomination as vice chairman. I always valued his significant contributions to UBS and worked closely with him for ten years. He is recognised as one of the country’s most respected bankers.”