Board of Directors
The Board has ultimate responsibility for the success of UBS AG and for delivering sustainable shareholder value within a framework of prudent and effective controls and subject to the parameters set by the Group. It decides on UBS AG’s strategic aims and the necessary financial and human resources upon recommendation of the President of the Executive Board and sets UBS AG’s values and standards to ensure that its obligations to its shareholders and other stakeholders are met.
Chairman of the Board of Directors
Chairman of the Board of Directors
Non-executive member of the Board since 2022
Colm Kelleher
- Chairperson of the Corporate Culture and Responsibility Committee since 2022
- Chairperson of the Governance and Nominating Committee since 2022
Nationality: Irish | Year of birth: 1957
Colm Kelleher was elected Chairman of UBS in April 2022. Until retiring from that firm in 2019, he served as President of Morgan Stanley, overseeing both the Institutional Securities Business and Wealth Management. Before that, he was Co-President and then President of Morgan Stanley Institutional Securities. During the global financial crisis of 2007 to 2009, he held the position of CFO and Co-Head Corporate Strategy. Mr. Kelleher is a well-respected leader in the financial services sector. His 30-year career with Morgan Stanley attests to his solid leadership experience in banking and excellent relationships around the world. He has a deep understanding of the global banking landscape and broad banking experience across all the geographic regions and major business areas in which UBS operates.
Professional experience | Professional experience | ||
|---|---|---|---|
2016 – 2019 | President responsible for Institutional Securities and Wealth Management, Morgan Stanley | ||
2010 – 2015 | Co-President and President, Institutional Securities, Morgan Stanley | ||
2007 – 2009 | CFO and Co-Head Corporate Strategy, Morgan Stanley | ||
2007 – 2009 | Head Global Capital Markets, Morgan Stanley | ||
2004 – 2006 | Co-Head Fixed Income, Europe, Morgan Stanley | ||
1989 – 2004 | Various roles, Morgan Stanley | ||
Education
- Master’s degree, modern history, Oxford University
- Fellow of the Institute of Chartered Accountants in England and Wales
Listed company boards
- Member of the Board of Norfolk Southern Corporation (chair of the risk and finance committee)
Other activities and functions
- Member of the Board of Directors of the Bretton Woods Committee
- Member of the Board of Americans for Oxford
- Member of the Oxford Chancellor’s Court of Benefactors
- Member of the Advisory Council of the British Museum
Vice Chairman
Vice Chairman
Non-executive member of the Board since 2022
Lukas Gähwiler
Nationality: Swiss | Year of birth: 1965
Lukas Gähwiler brings a wealth of industry experience and in-depth understanding of UBS to the Board. He served as Chairman of the Board of UBS Switzerland AG for five years and was a member of the Group Executive Board of UBS and President UBS Switzerland from 2010 to 2016, responsible for the private clients, wealth management, corporate and institutional clients, investment banking, and asset management businesses in UBS’s home market. Before joining UBS, Mr. Gähwiler worked for Credit Suisse for over twenty years, in his last role as Chief Credit Officer, Global Private and Corporate Banking. In addition to his leadership and industry experience across all parts of the banking business, his strong connections and network, particularly in Switzerland, are instrumental for the bank.
Professional experience | Professional experience | ||
|---|---|---|---|
2017 – 2022 | Chairman of the Board of Directors of UBS Switzerland AG | ||
2010 – 2016 | Member of the Group Executive Board of UBS Group AG and President UBS Switzerland | ||
2003 – 2010 | Chief Credit Officer, Global Private and Corporate Banking, Credit Suisse | ||
2002 – 2003 | Head Credit Risk Management, Corporate Clients Switzerland, Credit Suisse | ||
1998 – 2001 | Chief of Staff to CEO, Private and Corporate Clients, Credit Suisse | ||
1990 – 1998 | Various senior front office roles in Corporate Clients in Switzerland and North America, Credit Suisse | ||
1981 – 1986 | Client Advisor Retail and Wealth Management, Cantonal Bank of St. Gallen | ||
Education
- Advanced Management Program, Harvard Business School
- MBA program, International Bankers School, New York
- Bachelor’s degree, business administration, University of Applied Sciences, St. Gallen
Non-listed company boards
- Vice Chairman of the Board of Directors of Pilatus Aircraft Ltd
- Member of the Board of Directors of Ringier AG
- Member of the Board of Directors of Opernhaus Zürich AG
Other activities and functions
- Vice Chairman of the Swiss Bankers Association
- Chairman of the Employers Association of Banks in Switzerland
- Member of the Board of Directors of the Swiss Employers Association
- Member of the Board of economiesuisse
- Chairman of the Foundation Board of the UBS Pension Fund
- Member of the Foundation Council of the UBS Center for Economics in Society
- Member of the Board of the Swiss Finance Council
Jeremy Anderson
- Member of the Governance and Nominating Committee since 2019
- Chairperson of the Audit Committee since 2018
Nationality: British | Year of birth: 1958
Jeremy Anderson is a financial services veteran, with more than 30 years’ experience working in the banking and insurance sector in an advisory capacity, covering a broad range of topics, including strategy, audit and risk management, technology-enabled transformation, mergers, and bank restructuring. Before retiring from KPMG in 2017, he was its Chairman of Global Financial Services. Mr. Anderson is also an IT expert, having started out as a software developer in the early 1980s, before working in IT consulting and developing a broad knowledge of systems integration and IT outsourcing services, as well as software development. He cemented his reputation as a tech specialist by becoming a founding sponsor of KPMG’s Global Fintech Network in 2014.
Professional experience | Professional experience | ||
|---|---|---|---|
2010 – 2017 | Chairman of Global Financial Services, KPMG International | ||
2008 – 2011 | Head of Clients and Markets KPMG Europe, KPMG International | ||
2006 – 2011 | Head of Financial Services KPMG Europe, KPMG International | ||
2004 – 2006 | Head of Financial Services KPMG UK, KPMG International | ||
2002 – 2004 | Member of the Group Management Board and Head of UK operations, Atos Origin SA | ||
1985 – 2002 | KPMG consulting UK, KPMG | ||
1980 – 1985 | Software developer, Triad Computing Systems | ||
Education
- Bachelor’s degree, economics, University College London
Listed company boards
- Member of the Board of Prudential plc
Other activities and functions
- Trustee of the UK’s Productivity Leadership Group
- Trustee of Kingham Hill Trust
- Trustee of St. Helen’s Bishopsgate
Non-executive member of the Board since 2021
Claudia Böckstiegel
- Member of the Corporate Culture and Responsibility Committee since 2022
Nationality: Swiss and German | Year of birth: 1964
Claudia Böckstiegel has been General Counsel and a member of the Enlarged Executive Committee of Roche Holding AG since 2020. She started her professional career as an attorney in private practice in Germany, then joined the Swiss pharmaceutical company in Germany in 2001 and subsequently held various global management positions in the legal sector in Switzerland. Ms. Böckstiegel brings a wealth of know-how in a highly regulated sector. Her responsibilities at Roche Holding AG include a broad range of additional topics, such as safety, health & environment, patents, audit and risk advisory, compliance and sustainability.
Professional experience | Professional experience | ||
|---|---|---|---|
2020 – date | General Counsel and member of the Enlarged Executive Committee, Roche Holding AG | ||
2016 – 2020 | Head of Legal Diagnostics, F. Hoffmann-La Roche Ltd., Basel, Switzerland, Roche Group | ||
2010 – 2016 | Head Legal Business, Roche Diagnostics International Ltd, Rotkreuz, Switzerland, Roche Group | ||
2005 – 2010 | Head Legal Business, Roche Diagnostics GmbH, Mannheim, Germany, Roche Group | ||
2001 – 2005 | Legal Counsel, Roche Diagnostics GmbH, Mannheim, Germany, Roche Group | ||
1995 – 2001 | Attorney (Partner), Philipp & Littig, Mannheim, Germany | ||
1992 – 1995 | Attorney (Associate), Dr. Hermann Büttner, Karlsruhe, Germany | ||
Education
- Master’s degree, law, Universities of Mannheim and Heidelberg
- Master of Laws (LL.M.), Georgetown University, Washington, DC
Other activities and functions
- None
Non-executive member of the Board since 2019
William C. Dudley
- Member of the Corporate Culture and Responsibility Committee since 2019
- Member of the Risk Committee since 2019
Nationality: American (US) | Year of birth: 1953
William C. Dudley served as the President and CEO of the Federal Reserve Bank of New York for nine years. He demonstrated exceptional leadership in monetary policy and as a top regulator, including during the years of the global financial crisis. During that period, his additional area of focus included cultural behavior and social and governance topics in the financial services industry. He also served as the Vice Chairman and a permanent member of the Federal Open Market Committee. Mr. Dudley brings a wealth of experience in banking and research thanks to his former management positions at Goldman Sachs Group and Morgan Guaranty Trust.
Professional experience | Professional experience | ||
|---|---|---|---|
2009 – 2018 | President and CEO, Federal Reserve Bank of New York, USA | ||
2007 – 2009 | Executive Vice President and Head Markets Group, Federal Reserve Bank of New York, USA | ||
2006 | Senior advisor (part-time), Goldman Sachs Group, USA | ||
2002 – 2005 | Partner and Director US Economic Research Group, Goldman Sachs Group, USA | ||
1996 – 2002 | Managing Director and Director US Economic Research Group, Goldman Sachs Group, USA | ||
1983 – 1996 | Economist at Goldman Sachs Group, Morgan Guaranty Trust Company, and Board of Governors of the Federal Reserve System | ||
Education
- Bachelor of Arts, New College of Florida
- Doctorate, economics, University of California, Berkeley
Non-listed company boards
- Member of the Board of Treliant LLC
Other activities and functions
- Senior Advisor to the Griswold Center for Economic Policy Studies, Princeton University
- Member of the Group of Thirty
- Member of the Council on Foreign Relations
- Chair of the Bretton Woods Committee Board of Directors
- Member of the Board of the Council for Economic Education
Non-executive member of the Board since 2021
Patrick Firmenich
- Member of the Audit Committee since 2021
- Member of the Corporate Culture and Responsibility Committee since 2021
Nationality: Swiss | Year of birth: 1962
Patrick Firmenich has been Chairman of the Board of Firmenich International SA, the world’s largest privately owned fragrances and flavorings company, since 2016, after leading the company as CEO during a 12-year tenure. He demonstrated his entrepreneurial leadership by significantly advancing the Firmenich group’s global position through organic and in-organic growth and successfully continuously transformed the organization to respond to client needs and the market environment. He developed an ambitious sustainability strategy for the group to lead the industry in health, safety and environmental performance. Before joining Firmenich, he held several positions in the legal and banking sectors, including working as an international investment banking analyst.
Professional experience | Professional experience | ||
|---|---|---|---|
2014 – 2016 | Vice Chairman of the Board, Firmenich International SA | ||
2002 – 2014 | CEO, Firmenich SA, Geneva | ||
2001 – 2002 | Corporate Vice President, Special Operations, Firmenich SA, Geneva | ||
1997 – 2001 | Vice President Fine Fragrance worldwide and Président Directeur Général, Firmenich & Cie, Paris and Firmenich Inc, New York | ||
1993 – 1997 | Vice President Fine Fragrance North America, Firmenich Inc, New York | ||
1990 – 1993 | Account Manager, Firmenich & Cie, Paris | ||
1988 – 1989 | Analyst, International Investment Banking, Credit Suisse First Boston | ||
1988 | Production administrator, Firmenich SA de CV, Mexico | ||
1984 – 1986 | Attorney, Business Law, Patry, Junet, Simon & Le Fort, Geneva | ||
Education
- Master’s degree, law, University of Geneva, admitted to the bar in Geneva
- MBA, INSEAD Fontainebleau
Non-listed company boards
- Chairman of Firmenich SA
- Member of the Board of Jacobs Holding AG
Other activities and functions
- Member of the Board of INSEAD and INSEAD World Foundation
- Member of the Advisory Council of the Swiss Board Institute
Non-executive member of the Board since 2018
Fred Hu
- Member of the Governance and Nominating Committee since 2020
Nationality: Chinese | Year of birth: 1963
Fred Hu has been the Chairman and CEO of Primavera Capital Group, an Asia-based private investment firm focused on emerging technology and innovative industries, since founding it in 2010. Prior to that, he was a partner and Chairman for Greater China at Goldman Sachs, building the firm’s Asia Pacific franchise. Mr. Hu has a profound understanding of China’s economy and rapidly developing financial system, and vast amount of experience advising and investing in leading firms in the tech, consumer and health care sectors in China and globally. He has worked at the IMF and advised the Chinese government on economic policy.
Professional experience | Professional experience | ||
|---|---|---|---|
2010 – date | Founder, Chairman & CEO, Primavera Capital Group, China | ||
2008 – 2010 | Partner and Chairman of Greater China, Goldman Sachs | ||
2004 – 2008 | Partner and Co-Head, Investment Banking, China, Goldman Sachs | ||
2003 – 2004 | Managing Director and Co-Head, Investment Banking, China, Goldman Sachs | ||
1997 – 2003 | Executive Director, then Managing Director and Chief Economist and Strategist, Greater China, Goldman Sachs | ||
1996 – date | Co-Director, the National Center for Economic Research | ||
1996 – date | Adjunct Professor, Economics, Tsinghua University | ||
Education
- Master’s degree, engineering science, Tsinghua University
- Master’s degree and doctorate, economics, Harvard University
Listed company boards
- Non-executive Chairman of the Board of Yum China Holdings (chair of the nomination and governance committee)
- Member of the Board of ICBC
Non-listed company boards
- Chairman of Primavera Capital Ltd
- Member of the Board of Ant Group
- Member of the Board of Minsheng Financial Leasing Co.
Other activities and functions
- Trustee of the China Medical Board
- Governor of the Chinese International School in Hong Kong SAR
- Co-Chairman of the Nature Conservancy Asia Pacific Council
- Member of the Board of Trustees, the Institute for Advanced Study
- Director and member of the Executive Committee of China Venture Capital and Private Equity Association Ltd.
Non-executive member of the Board since 2020
Mark Hughes
- Chairperson of the Risk Committee since 2020
- Member of the Corporate Culture and Responsibility Committee since 2020
Nationality: Canadian, British and American (US) | Year of birth: 1958
Mark Hughes is a veteran in the financial services sector, having spent more than 35 years working for the Royal Bank of Canada (RBC) in Canada, in the US and the UK. In his final role as Group Chief Risk Officer of RBC, he was responsible for the strategic management of risk on an enterprise-wide basis and oversaw all risk functions. During his career, Mr. Hughes has also held senior management positions in the front office and key operational roles. Currently, he is a visiting lecturer at Leeds University and is chair of the Global Risk Institute, bringing an enormous amount of experience as a risk specialist to the Board of Directors of UBS.
Professional experience | Professional experience | ||
|---|---|---|---|
2014 – 2018 | Group Chief Risk Officer and member Group Executive Committee, Royal Bank of Canada (RBC) | ||
2013 | Deputy Chief Risk Officer, RBC | ||
2008 – 2013 | Chief Operating Officer, RBC Capital Markets, RBC | ||
2001 – 2008 | Head of Global Credit, RBC | ||
1999 – 2001 | Head of Debt Products, RBC | ||
1998 – 1999 | Senior Vice President and General Manager USA, RBC | ||
1997 – 1998 | Senior Vice President Financial Services, RBC | ||
1982 – 1996 | Various positions, RBC | ||
Education
- Bachelor of Laws (LL.B.), University of Leeds
- MBA, finance, University of Manchester
Other activities and functions
- Chair of the Board of Directors of the Global Risk Institute
- Visiting lecturer at the University of Leeds
- Senior advisor to McKinsey & Company
Non-executive member of the Board since 2020
Nathalie Rachou
- Member of the Governance and Nominating Committee since 2022
- Member of the Risk Committee since 2020
Nationality: French | Year of birth: 1957
Nathalie Rachou is a seasoned expert in financial services, having held a number of banking positions, such as CEO of Prime Brokerage and Head of a business line in Capital Markets at Crédit Agricole Indosuez in the UK and in France. In 1999, she founded a London-based asset management company that merged with a French asset manager and continued as a senior adviser until 2020. Alongside these roles, Ms. Rachou brings extensive experience from serving as a board member of Société Générale for 12 years and is currently on the boards of two other listed companies, including the pan-European bourse, Euronext N.V.
Professional experience | Professional experience | ||
|---|---|---|---|
2015 – 2020 | Senior Advisor, Clartan Associés (formerly Rouvier Associés), France | ||
1999 – 2014 | Founding partner and CEO, Topiary Finance Ltd., UK | ||
1996 – 1999 | Head of Global Foreign Exchange and Currency Options, Crédit Agricole Indosuez (formerly Banque Indosuez), UK | ||
1991 – 1996 | Corporate Secretary and Secretary to the Board of Directors, Crédit Agricole Indosuez, France | ||
1986 – 1991 | COO, Carr Futures, France (owned by Banque Indosuez), Crédit Agricole Indosuez, France | ||
1983 – 1986 | Head of Asset and Liability Management & Market Risks, Crédit Agricole Indosuez, France | ||
1978 – 1982 | Position in Forex Exchange Sales, Crédit Agricole Indosuez, France and UK | ||
Education
- Master’s degree, management, HEC Paris
- MBA, INSEAD Fontainebleau
Listed company boards
- Member of the Board of Euronext N.V. (chair of the remuneration committee)
- Member of the Board of Veolia Environnement SA (chair of the audit committee)
Other activities and functions
- Member of the Board of the African Financial Institutions Investment Platform
Non-executive member of the Board since 2017
Julie G. Richardson
- Chairperson of the Compensation Committee since 2019
- Member of the Risk Committee since 2017
Nationality: American (US) | Year of birth: 1963
Julie G. Richardson spent more than 25 years on Wall Street as a senior investment banker with a focus on telecom, media and technology. She began her career at Merrill Lynch, before moving to JPMorgan, where she headed the telecommunications, media and technology investment banking group. Later, she moved into private equity, as head of the New York office of Providence Equity Partners. Throughout her career, Ms. Richardson has spent significant time with both incumbent and new technology companies, including being a board member of a digital knowledge management company and a leading cloud monitoring firm.
Professional experience | Professional experience | ||
|---|---|---|---|
2012 – 2014 | Senior advisor, Providence Equity Partners, New York | ||
2003 – 2012 | Partner and Head of the New York office, Providence Equity Partners, New York | ||
1998 – 2003 | Vice Chairman of the Investment Banking division of JPMorgan Chase & Co. and Head of its Global Telecommunications, Media and Technology group | ||
1986 – 1998 | Various position at Merrill Lynch, final position: Managing Director Media and Communications Investment Banking | ||
Education
- Bachelor’s degree, business administration, University of Wisconsin-Madison
Listed company boards
- Member of the Board of Yext (chair of the audit committee)
- Member of the Board of Datadog (chair of the audit committee)
- Member of the Board of Fivetran
Non-executive member of the Board since 2016
Dieter Wemmer
- Member of the Audit Committee since 2019
- Member of the Compensation Committee since 2018
Nationality: Swiss and German | Year of birth: 1957
Dieter Wemmer began his esteemed career in the insurance sector with the Zurich Group in 1986, retiring in 2017 as CFO of Allianz. As a long-serving CFO of two large multi-national companies in the financial services sector, he brings deep experience across a broad range of highly relevant topics to the table. Mr. Wemmer brings to the BoD knowledge covering accounting, finance and audit, including capital markets, investments, risk management, as well as asset management. His know-how includes hands-on experience in M&A and management of large organizations with a dedication to strategy.
Professional experience | Professional experience | ||
|---|---|---|---|
2013 – 2017 | CFO, Allianz SE | ||
2012 – 2013 | Member of the Board of Management, responsible for the insurance business in France, Benelux, Italy, Greece and Turkey and for the “Global Property & Casualty” Center of Competence, Allianz SE | ||
2007 – 2011 | CFO, Zurich Insurance Group | ||
2010 – 2011 | Regional Chairman of Europe, Zurich Insurance Group | ||
2004 – 2007 | CEO of the Europe General Insurance business and member of Zurich’s Group Executive Committee, Zurich Insurance Group | ||
2003 – 2004 | COO of Europe General Insurance, Zurich Insurance Group | ||
1999 – 2003 | Head of Mergers and Acquisitions, Zurich Insurance Group | ||
1997 – 1999 | Head of Financial Controlling, Zurich Insurance Group | ||
Education
- Master’s degree and doctorate, mathematics, University of Cologne
Listed company boards
- Member of the Board of Ørsted A/S (chair of the audit and risk committee)
Non-listed company boards
- Chairman of Marco Capital Holdings Limited, Malta and subsidiaries
Other activities and functions
- Member of the Berlin Center of Corporate Governance
Non-executive member of the Board since 2019
Jeanette Wong
- Member of the Compensation Committee since 2020
- Member of the Audit Committee since 2019
Nationality: Singaporean | Year of birth: 1960
Jeanette Wong has spent more than 30 years working in the financial sector in Singapore. She retired from DBS Group in 2019, where she was Group Executive responsible for the institutional banking business, a post which encompassed corporate banking, global transaction services, strategic advisory and mergers and acquisitions. Prior to that, she held the position of CFO at DBS Bank. During a 16-year career with JPMorgan, Ms. Wong helped build up its Asia and emerging markets business. She brings extensive experience from serving as a member of the board of directors of two highly valued listed companies.
Professional experience | Professional experience | ||
|---|---|---|---|
2008 – 2019 | Group Executive institutional banking business, DBS Bank, Singapore | ||
2003 – 2008 | CFO, DBS Bank | ||
2003 | Chief Administration Officer, DBS Bank, Singapore | ||
1997 – 2002 | Country Manager Singapore, JPMorgan Chase, Singapore | ||
1986 – 1997 | Various roles in Global Markets and Emerging Markets Sales and Trading business, Asia, JPMorgan Chase, Singapore | ||
1984 – 1986 | Manager, Private Banking, Citibank, Singapore | ||
1982 – 1984 | Manager, Corporate Banking, Paribas, Singapore | ||
Education
- Bachelor’s degree, business administration, the National University of Singapore
- MBA, University of Chicago
Listed company boards
- Member of the Board of Prudential plc
- Member of the Board of Singapore Airlines Limited
Non-listed company boards
- Member of the Board Risk Committee of GIC Pte Ltd
- Member of the Board of Jurong Town Corporation
- Member of the Board of PSA International
Other activities and functions
- Chairman of the CareShield Life Council
- Member of the Securities Industry Council
- Member of the Board of Trustees of the National University of Singapore
Company Secretary
Company Secretary
Group Company Secretary since 2017
Markus Baumann
Nationality: Swiss | Year of birth: 1963
Markus Baumann joined UBS in 1979 as a banking apprentice and has now been with the firm for more than 40 years. Earlier in his career, he worked in Japan for four years, as Corporate Planning Officer and assistant to the CEO. He then worked as COO EMEA for UBS Asset Management and has since held a broad range of leadership roles across the Group in Switzerland, the US and Japan, including COO of Group Internal Audit from 2006 to 2015.
Professional experience | Professional experience | ||
|---|---|---|---|
2017 – date | Group Company Secretary of UBS Group AG and Company Secretary of UBS AG | ||
2015 – 2016 | Chief of Staff to the Chairman of the Board of Directors, UBS | ||
2006 – 2015 | COO, Group Internal Audit, UBS | ||
2005 – 2006 | Head Global Reporting & Controlling, Global Asset Management, UBS | ||
2002 – 2004 | Head Management Support CEO EMEA, Global Asset Management, UBS | ||
1998 – 2002 | COO EMEA, Global Asset Management, UBS | ||
1979 – 1997 | Various positions, Union Bank of Switzerland | ||
Education
- Swiss Federal Diploma as a Business Analyst
- MBA, INSEAD Fontainebleau
Committee memberships after AGM 2021
Name | Board of Directors | Audit Committee | Compensation Committee | Risk Committee | |||||
Colm Kelleher | Chairman | - | - | - | |||||
Lukas Gähwiler | Vice Chairman | - | - | - | |||||
Jeremy Anderson | Member | Chairperson | - | - | |||||
Claudia Böckstiegel | Member | - | - | - | |||||
William C. Dudley | Member | - | - | Member | |||||
Patrick Firmenich | Member | Member | - | - | |||||
Fred Hu | Member | - | - | - | |||||
Mark Hughes | Member | - | - | Chairperson | |||||
Nathalie Rachou | Member | - | - | Member | |||||
Julie G. Richardson | Member | - | Chairperson | Member | |||||
Dieter Wemmer | Member | Member | Member | - | |||||
Jeanette Wong | Member | Member | Member | - |
Latest financial information and Annual General Meeting
Latest financial information and Annual General Meeting
