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UBS appoints Christine Novakovic head of the Corporate & Institutional Clients business area and Manuel Leuthold vice chairman

Zurich / Basel Media Releases Switzerland

Christine Novakovic has been appointed head of UBS Switzerland's Corporate & Institutional Clients business area effective February 1, 2011. The present head, Manuel Leuthold, will become vice chairman effective February 1, 2011 and will have primary responsibility for Western Switzerland. Both Christine and Manuel will report directly to the CEO of UBS Switzerland, Lukas Gähwiler.

Christine Novakovic began her career in 1990 when she joined Dresdner Bank. In 1992 she moved to UBS in Frankfurt and in 1996 to Citibank, where she held a variety of management positions in investment banking in Europe and Asia. She took charge of the whole of Citibank's retail business in Germany in 2001. In 2005 she became a member of the Group Management Board at Hypo Vereinsbank with responsibility for asset management and for private and retail banking. In 2007 she founded her own company, the CNB AG, which specializes in management consultancy and art dealership.

With Christine Novakovic, UBS is welcoming back someone who worked for the bank at the very outset of her career. Her experience of the banking world is very broad and international, and most recently, she was running her own firm in Switzerland.

Manuel Leuthold has been with UBS for over 25 years and has worked in the fields of corporate clients, wealth management and retail banking. He took over the Corporate & Institutional Clients business area during the financial crisis and guided it successfully through this challenging period. Manuel Leuthold has an extraordinarily good network in Western Switzerland, and this area will be his principal concern as vice chairman. He will support UBS's front-office units in looking after major clients and will represent the bank externally. His nomination also reflects the great importance UBS Switzerland attaches to the western part of the country.