Board of Directors

Non-executive member of the Board

Year of initial election

UBS: 2012 (UBS Group AG: 2014, UBS AG: 2012)

Year of birth | Nationality

1957 | German

Professional history and education

Axel A. Weber was elected to the BoD of UBS AG at the 2012 AGM and of UBS Group AG in 2014. He is Chairman of the BoD of both UBS AG and UBS Group AG. He has chaired the Governance and Nominating Committee since 2012 and became Chairperson of the Corporate Culture and Responsibility Committee in 2013. Mr. Weber was President of the German Bundesbank between 2004 and 2011, during which time he also served as a member of the Governing Council of the European Central Bank, as a member of the Board of Directors of the Bank for International Settlements, as German governor of the International Monetary Fund, and as a member of the G7 and G20 Ministers and Governors. He was a member of the steering committees of the European Systemic Risk Board in 2011 and the Financial Stability Board from 2010 to 2011. From 2002 to 2004, Mr. Weber served as a member of the German Council of Economic Experts. His academic career encompasses professorships in international economics, monetary economics and economic theory at the universities of Cologne, Frankfurt am Main, Bonn and Chicago. Mr. Weber holds a master’s degree in economics from the University of Constance and a PhD in economics from the University of Siegen, where he also received his habilitation. He holds honorary doctorates from the universities of Duisburg-Essen and Constance.

Other activities and functions

• Vice Chairman of the Swiss Bankers Association
• Member of the Board of Trustees of Avenir Suisse
• Member of the Board of the Swiss Finance Council
• Chairman of the Board of the Institute of International Finance
• Member of the European Financial Services Round Table
• Member of the European Banking Group
• Member of the International Advisory Councils of the China Banking and Insurance Regulatory Commission and China Securities Regulatory Commission
• Member of the International Advisory Panel, Monetary Authority of Singapore
• Member of the Group of Thirty, Washington, DC
• Member of the Advisory Board of the Department of Economics, University of Zurich
• Member of the Trilateral Commission

Non-executive member of the Board

Year of initial election

UBS: 2018

Year of birth | Nationality

1958 | British

Professional history and education

Jeremy Anderson was elected to the BoD of UBS AG and UBS Group AG at the 2018 AGM. He is Vice Chairman and Senior Independent Director and has chaired the Audit Committee since 2018 and has been a member of the Governance and Nominating Committee since 2019. He was Chairman of Global Financial Services at KPMG International from 2010 to 2017. He has spent over 30 years working with the banking and insurance industry in an advisory capacity, covering a broad range of topics, including strategy, audit and risk management, technology-enabled transformation, mergers and bank restructuring. Mr. Anderson was the founding sponsor of KPMG’s Global Fintech Network in 2014 and is a regular participant at fintech events across Europe, the US and Asia. He joined KPMG International in 2004 and was Head of Financial Services KPMG Europe from 2006 to 2011 as well as Head of Clients and Markets KPMG Europe from 2008 to 2011. From 2004 to 2008 he was in charge of its UK Financial Services Practice. Prior to that, he served as a member of the Group Management Board of Atos Origin and as Head of its UK operations after Atos acquired KPMG Consulting UK in 2002. In this capacity he managed Atos’s consulting, systems integration and IT outsourcing services in the UK. Mr. Anderson joined KPMG’s UK consulting business in 1985 and led the firm as CEO from 2000 to 2002, having previously been a Partner in its financial services business. He started his career as a software developer with Triad Computing Systems in 1980. Mr. Anderson holds a bachelor’s degree in economics from 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

Year of initial election

UBS: 2019

Year of birth | Nationality

1953 | American (US)

Professional history and education

William C. Dudley was elected to the BoD of UBS AG and UBS Group AG at the 2019 AGM. He has been a member of the Corporate Culture and Responsibility Committee and of the Risk Committee since 2019 and became a member of the Governance and Nominating Committee in 2020. Currently, Mr. Dudley is a Senior Research Scholar at the Griswold Center for Economic Policy Studies at Princeton University. He became CEO of the Federal Reserve Bank of New York (the NY Fed) in 2009 and held that position until 2018. During this time, his focus areas included cultural behavior and social and governance topics in the financial world. As CEO, he served as the Vice Chairman and a permanent member of the Federal Open Market Committee. Previously, Mr. Dudley served as Executive Vice President of the Markets Group at the NY Fed and Head of the Markets Group from 2007 to 2009. Prior to his time with the NY Fed, Mr. Dudley joined Goldman Sachs in 1986 and held several senior management positions. He was a Partner and Managing Director and for a decade the Chief US Economist. In 2012, Mr. Dudley was appointed Chairman of the Committee on the Global Financial System of the Bank for International Settlements (BIS). Prior to that, he served as Chairman of the former Committee on Payment and Settlement Systems of the BIS from 2009 to 2012. He was a member of the Board of Directors of the BIS from 2009 to 2018. Mr. Dudley holds a bachelor’s degree from New College of Florida and received his doctorate in economics from the University of California, Berkeley in 1982.

Non-listed company boards

• Member of the Board of Treliant LLC
  

Other activities and functions

• 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

Year of initial election

UBS: 2021

Year of Birth | Nationality

1962 | Swiss

Professional history and education

Patrick Firmenich was elected to the BoD of UBS AG and UBS Group AG at the 2021 AGM. He has been a member of the Audit Committee and the Corporate Culture and Responsibility Committee since 2021. Mr. Firmenich has been the Chairman of the Board of Firmenich International SA, the world’s largest privately owned perfume and taste company, since 2016. He was Firmenich’s CEO from 2002 to 2014, and has been a member of its Board of Directors since 2002. He joined Firmenich in 1990 and spent a decade leading the strategic development of the company’s International Fine Fragrance business in New York and Paris, holding management positions such as Corporate Vice President from 2001 to 2002 and Vice President of Fine Fragrance Worldwide, as well as Président Directeur Général at Firmenich & Cie (Paris) from 1997 to 2001. Prior to joining Firmenich, Mr. Firmenich held several positions in the legal and banking sectors, including international investment banking analyst for Credit Suisse First Boston, as a business attorney at Patry, Junet, Simon & Le Fort and legal counsel at Chase Manhattan Bank. Mr. Firmenich holds a master’s degree in law from the University of Geneva and is admitted to the bar in 1987 in Geneva. He also owns an MBA from INSEAD.

Non-listed company boards

• 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

Year of initial election

UBS: 2013 (UBS Group AG: 2014, UBS AG: 2013)

Year of birth | Nationality

1955 | Swiss

Professional history and education

Reto Francioni was elected to the BoD of UBS AG at the 2013 AGM and of UBS Group AG in 2014. He has been a member of the Risk Committee since 2015 and of the Compensation Committee since 2019. He was CEO of Deutsche Börse AG from 2005 to 2015. Since 2006, he has been a professor of Financial Market Research at the University of Basel. From 2002 to 2005, Mr. Francioni was Chairman of the Supervisory Board and President of the SWX Group, Zurich, placing him at the heart of digitalization within the industry. Mr. Francioni was Co-CEO and Spokesman for the Board of Directors of Consors AG, Nuremberg, from 2000 to 2002. Between 1993 and 2000, he held various management positions at Deutsche Börse AG, including that of Deputy CEO from 1999 to 2000. There he drove a fundamental transformation to shape it as a world leader in technology. From 1992 to 1993, he served in the corporate finance division of Hoffmann-La Roche, Basel. Prior to that, he was on the Executive Board of Association Tripartite Bourses for several years. From 1985 to 1988, he worked for Credit Suisse, holding positions in the equity sales and legal departments. He started his professional career in 1981 in the commerce division of Union Bank of Switzerland. Mr. Francioni completed his law degree at the University of Zurich in 1981 and earned his PhD from that same university in 1987.

Listed company boards

• Member of the Board of Coca-Cola HBC AG (Senior Independent Non-Executive Director, chair of the nomination committee)
  

Non-listed company boards

• Chairman of the Board of Swiss International Air Lines AG
• Member of the Board of MTIP AG

Other activities and functions

• Member of the Board of economiesuisse

Non-executive member of the Board

Year of initial election

UBS: 2018

Year of birth | Nationality

1963 | Chinese

Professional history and education

Fred Hu was elected to the BoD of UBS AG and UBS Group AG at the 2018 AGM. He has been a member of the Governance and Nominating Committee and the Risk Committee since 2020. Mr. Hu has been Chairman of Primavera Capital Group, a China-based global investment firm, since 2010. Through his numerous investments in leading technology companies over the years, he has obtained profound knowledge in the areas of mobile internet, digitalization and cybersecurity. Prior to founding Primavera, Mr. Hu held various senior positions at Goldman Sachs from 1997 to 2010. He was a Partner and Chairman of Greater China from 2008 to 2010 and a Partner and Co-Head of Investment Banking China from 2004 to 2008. Before that, he held the position of Goldman Sachs’s Chief China Economist. From 1991 to 1996, he served as an economist at the International Monetary Fund in Washington, DC, and after that was Co-Director of the National Center for Economic Research and a professor at Tsinghua University. Mr. Hu holds a master’s in engineering science from Tsinghua University, and a master’s and a PhD in economics from 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
• Co-Chairman of the Nature Conservancy Asia Pacific Council
• Member of the Board of Trustees of the Institute for Advanced Studies (IAS)

Non-executive member of the Board

Year of initial election

UBS: 2020

Year of birth | Nationality

1958 | Canadian, British and American (US)

Professional history and education

Mark Hughes was elected to the BoD of UBS AG and UBS Group AG at the 2020 AGM. He has been a member of the Corporate Culture and Responsibility Committee and chaired the Risk Committee since 2020. Mr. Hughes was Group Chief Risk Officer of Royal Bank of Canada (RBC) from 2014 to 2018. He joined RBC in 1981 and spent his entire career working for that bank in Canada, the US and the UK. He held various senior leadership positions, such as Chief Operating Officer Capital Markets (2008 to 2013) and Head of Global Credit (2001 to 2008). Mr. Hughes served on boards of RBC’s subsidiaries for more than 20 years. Mr. Hughes holds a Bachelor of Laws degree from the University of Leeds and an MBA in finance from Manchester Business School.

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

Year of initial election

UBS: 2020

Year of birth | Nationality

1957 | French

Professional history and education

Nathalie Rachou was elected to the BoD of UBS AG and UBS Group AG at the 2020 AGM. She has been a member of the Risk Committee since 2020. Ms. Rachou was a senior advisor for Clartan Associés (formerly Rouvier Associés) from 2015 to April 2020. In 1999, she founded Topiary Finance Ltd, an asset management company based in London, of which she was CEO until its merger with Rouvier Associés in 2014. From 1978 to 1999, Ms. Rachou held a number of positions within Banque Indosuez and Crédit Agricole Indosuez, including roles in capital markets and as Chief Operating Officer of the brokerage subsidiary of Banque Indosuez. Ms. Rachou holds a master’s degree in management from HEC in Paris and an executive MBA from INSEAD.

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)

Non-executive member of the Board

Year of initial election

UBS: 2017

Year of birth | Nationality

1963 | American (US)

Professional history and education

Julie G. Richardson was elected to the BoD of UBS AG and UBS Group AG at the 2017 AGM. She has been a member of the Compensation Committee since 2018 and its Chairperson since 2019. She also has been a member of the Risk Committee since 2017 and of the Governance and Nominating Committee since 2019. From 2003 to 2012, Ms. Richardson was a Partner and Head of the New York Office of Providence Equity Partners, a global private equity firm specializing in equity investments in media, communications, education and information companies. She acted as a senior advisor to the partnership until 2014. From 1998 to 2003, Ms. Richardson served as Vice Chairman of the Investment Banking division of JPMorgan Chase & Co. and Head of its Global Telecommunications, Media and Technology group. Throughout her career, she has spent significant time with both incumbent and new technology companies, including being a board member, since 2015, of a digital knowledge management company and, since 2019, of a leading cloud monitoring company. She began her career in 1986 with Merrill Lynch, where she worked until 1998, in her last position as Managing Director Media and Communications Investment Banking. Ms. Richardson graduated from the University of Wisconsin–Madison with a bachelor’s degree in business administration.

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)
  

Non-executive member of the Board

Year of initial election

UBS: 2016

Year of birth | Nationality

1957 | Swiss and German

Professional history and education

Dieter Wemmer was elected to the BoD of UBS AG and UBS Group AG at the 2016 AGM. He has been a member of the Compensation Committee since 2018. In 2019, he became a member of the Audit Committee and in 2020, a member of the Governance and Nominating Committee. Mr. Wemmer was Chief Financial Officer (CFO) of Allianz SE from 2013 to 2017. He joined Allianz SE in 2012 as a 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. He was CFO of Zurich Insurance Group from 2007 to 2011. From 2010 to 2011, he was Zurich’s Regional Chairman of Europe. Prior to that, Mr. Wemmer was CEO of the Europe General Insurance business and member of Zurich’s Group Executive Committee from 2004 to 2007. He held various other management positions in the Zurich Group, such as Chief Operating Officer of the Europe General Insurance business from 2003 to 2004, Head of Mergers and Acquisitions from 1999 to 2003 and Head of Financial Controlling from 1997 to 1999. Mr. Wemmer began his career in the insurance industry within the Zurich Group in 1986 in Cologne, after graduating from the University of Cologne with a master’s degree and acquiring his doctorate in mathematics in 1985.

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
  

Other activities and functions

• Member of the Berlin Center of Corporate Governance
  

Non-executive member of the Board

Year of initial election

UBS: 2019

Year of birth | Nationality

1960 | Singaporean

Professional history and education

Jeanette Wong was elected to the BoD of UBS AG and UBS Group AG at the 2019 AGM. She has been a member of the Audit Committee since 2019. In 2020, she became a member of the Compensation Committee and a member of the Corporate Culture and Responsibility Committee. Ms. Wong was Group Executive responsible for the institutional banking business at the Singapore-based DBS Group from 2008 to March 2019, encompassing Corporate Banking, Global Transaction Services, Strategic Advisory and Mergers & Acquisitions. Previously, she served as Chief Financial Officer of the DBS Group between 2003 and 2008. Ms. Wong has spent more than 30 years working in different senior management roles within the financial industry in Singapore. She started her career in 1982 with positions at Banque Paribas and Citibank, before helping to build up JP Morgan’s Asia and emerging markets business over a sixteen-year career with the firm. Ms. Wong holds a bachelor’s in business administration from the National University of Singapore and an MBA from the 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