Group Executive Board

The Group Executive Board has business management responsibility for UBS. Its members, including the Group Chief Executive Officer, are appointed by the Chairman and members of the Board of Directors - to whom they must also account for the firm's results.

Members of the Group Executive Board

The text in the boxes below provides information on the composition of the Group Executive Board (GEB) as of 31 December 2007. It shows each member's function in UBS, nationality, year of initial appointment to the GEB, professional history and education, date of birth and other activities and functions, such as mandates on boards of important corporations, organizations and foundations, permanent functions for important interest groups and official functions and political mandates.

On 6 July 2007, Peter Wuffli stepped down as Group Chief Executive Officer (Group CEO) and was replaced by Marcel Rohner. Raoul Weil became Chairman and CEO of Global Wealth Management & Business Banking. Clive Standish, Group Chief Financial Officer, retired on 30 September 2007 and was replaced by Marco Suter, who stepped down from the Board of Directors (BoD). At the same time Huw Jenkins stepped down from the GEB and Marcel Rohner additionally assumed his position as Chairman and CEO Investment Bank. Walter Stuerzinger was appointed Chief Operating Officer (COO) of Corporate Center and Joe Scoby Group Chief Risk Officer as of 1 October 2007.

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Changes in 2008

Jerker Johannsson has been appointed as Chairman and CEO of the Investment Bank. He took on the role on 17 March 2008, joining UBS from Morgan Stanley, where he was Vice Chairman Europe. He will become a member of the GEB at this date.

To strengthen the management structure of the firm, the following new members were appointed to the GEB as of 14 February 2008:

– Marten Hoekstra, Deputy CEO, Global Wealth Management & Business Banking and Head of Wealth Management, Americas;

– Alexander Wilmot-Sitwell, Joint Global Head Investment Banking Department, UBS Investment Bank, and Chairman and CEO, UBS Group Europe, Middle East & Africa; and

– Robert Wolf, Chairman and CEO, UBS Group Americas and President and COO, Investment Bank.

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Responsibilities, authorities and organizational principles

The GEB has executive management responsibility for the Group and is accountable to the BoD for the firm's results. Together with the Chairman's Office, the GEB assumes overall responsibility for the development of UBS's strategies. The GEB, in particular the CEO, is responsible for the implementation and results of the firm's business strategies, for the alignment of the business groups to UBS's integrated business model and for the exploitation of synergies across the firm. Through its Risk Subcommittee, the GEB assumes responsibility for the Group's risk control standards, concepts, methodologies and limits. The GEB plays a key role in defining the human resources policy and the compensation principles of the Group. It also fosters an entrepreneurial leadership spirit throughout the firm.

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Management contracts

UBS has not entered into management contracts with any third parties.