UBS announces departure of Mark Sutton
UBS announced today that Mark Sutton, Member of the Group Executive Board and Chairman and CEO Americas, has decided to step down from his role in order to pursue a range of other business opportunities and personal interests. He will remain with the firm until the end of 2006.
Robert Wolf has been appointed as Chairman and CEO of UBS Americas. Robert Wolf has previously been Chairman of UBS Investment Bank, Americas and Global Chief Operating Officer of UBS Investment Bank. Robert Wolf will continue to retain the role of Chief Operating Officer of the Investment Bank. He will report to Huw Jenkins, Chairman and CEO of UBS Investment Bank, who will assume regional responsibility for the Americas in the UBS Group Executive Board.
Mark Sutton, 52, has been with UBS and its predecessor firms since 1980. He has held his current position since 2005. Previously, he was Chairman and Chief Executive Officer of Wealth Management US.
"Mark has made significant contributions to UBS. First, in leading our US wealth management business and, more recently, by further aligning our businesses in the United States. We respect his decision to move on and wish him all the best in his future endeavors," said Peter Wuffli, Group Chief Executive Officer of UBS.