UBS News Alert
UBS Appoints Jerker Johansson as Chairman and Chief Executive Officer of the Investment Bank
To strengthen the management structure of the firm, UBS announces three appointments to the Group Executive Board (GEB): Robert Wolf, Chairman and CEO, UBS Group Americas and President and Chief Operating Officer, Investment Bank; Alexander Wilmot-Sitwell, Joint Global Head, Investment Banking Department, UBS Investment Bank and Marten Hoekstra, Head of Wealth Management, Americas.
UBS announces the appointment of Jerker Johansson as Chairman and Chief Executive Officer of its Investment Bank, and his appointment to the Group Executive Board. He will take up his appointment from 17 March 2008 and will be based in London.
Mr Johansson joins UBS from Morgan Stanley, where he was Vice Chairman, Europe. In his 22 year career at Morgan Stanley, Mr Johansson was previously Head of the Institutional Equity Division and co-head of the combined Equity and Fixed Income sales and trading businesses.
Marcel Rohner, Group Chief Executive Officer, UBS commented: "We are delighted to announce the appointment of Jerker Johansson as head of the Investment Bank. Jerker brings with him the skills and experience to grow the world's leading client driven investment bank. While this has been a difficult time for the Investment Bank, because of the losses in Fixed Income, we have continued to see strong performances in both our Equities and our Investment Banking divisions. I am confident that under Jerker's leadership we will build on this performance and strengthen our position further in all areas. I very much look forward to working closely with Jerker in the GEB to the benefit of all of UBS's clients."
Jerker Johansson commented:"UBS is one of the world's leading financial services firms, with powerful and deep positions across its chosen client segments and markets. The current turbulence in financial markets represents a challenge, but also a huge opportunity for well run firms, and I look forward to leading UBS's Investment Bank to a prosperous future."
At the same time, to strengthen its management structure, UBS announces the following appointments to the Group Executive Board (GEB):
Robert Wolf, Chairman and CEO, UBS Group Americas and President and Chief Operating Officer, Investment Bank, will join the GEB in his current role.
Alexander Wilmot-Sitwell, Joint Global Head, Investment Banking Department, UBS Investment Bank, will also become Chairman and CEO, UBS Group EMEA, and will join the GEB.
Marten Hoekstra, Deputy CEO, Global Wealth Management & Business Banking and Head of Wealth Management, Americas, will join the GEB in his current role.
Commenting on these appointments, Marcel Rohner, Group Chief Executive Officer, UBS, commented: "These appointments significantly strengthen the management structure of the firm. The new composition of the Group Executive Board reflects the breadth of the businesses and the markets we operate in, ensuring continuous, excellent execution against our strategic vision. I am delighted to welcome Jerker, Robert, Alex and Marten to their new roles."
Zurich/Basel, 13 February 2008
Jerker Johansson was named Chairman and Chief Executive Officer of the UBS Investment Bank on February 13, 2008.
Previously he was Vice Chairman of Morgan Stanley Europe, and a member of the firm's Management Committee. From 2005 to December 2007 he was head of Morgan Stanley's Institutional Equity Division. In August 2005 he was also named co-head of the combined sales and trading business, consisting of the Institutional Equity Division and the Fixed Income Division. In April 2007 he became co-head of sales and trading with responsibility for clients and services, continuing his responsibility for prime brokerage and becoming solely responsible for the sales and trading side of capital markets.
Jerker joined Morgan Stanley in 1985 as a Summer Associate and held various positions including Head of Equity Capital Markets, Europe before being promoted in 1997 to Chief Operating Officer, Institutional Equity Division Europe. There he had responsibility for the day-to-day operations of the equity business, while serving as a member of the European Management Committee. From 2002 to 2005 he was head of the Institutional Equity Division in Europe.
Before joining Morgan Stanley, Jerker was part of Bankers Trust's Graduate Training Program, and also worked for Chase Manhattan Bank.
Jerker holds a Master of Economics degree from Stockholm School of Economics, Sweden and an MBA from Stanford. He was born on May 19, 1956 and is a citizen of Sweden.
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