Group Executive Board

Under the leadership of the Group Chief Executive Officer (Group CEO), the Group Executive Board (GEB) has executive management responsibility for the steering of the Group and its business. It assumes overall responsibility for developing the Group and business division strategies and the implementation of the approved strategies.

All GEB members (with the exception of the Group CEO) are proposed by the Group CEO. The appointments are approved by the BoD.


Group Chief Executive Officer

Sergio P. Ermotti

Member of the UBS Group Executive Board and Group CEO since 2011

Year of initial appointment to UBS Group AG: 2014 (new holding company as of 2014)
Year of initial appointment to UBS AG: 2011

Year of Birth | Nationality

1960 | Swiss

Professional history and education

Sergio P. Ermotti has been Group Chief Executive Officer of UBS Group AG since November 2014, having held the same position at UBS AG since November 2011 and on an interim basis between September and November 2011. Mr. Ermotti became a member of the GEB in April 2011 and was Chairman and CEO of UBS Group Europe, Middle East and Africa from April to November 2011. From 2007 to 2010, he was Group Deputy Chief Executive Officer at UniCredit, Milan, and was responsible for the strategic business areas of Corporate and Investment Banking, and Private Banking. He joined UniCredit in 2005 as Head of Markets & Investment Banking Division. His career began at Merrill Lynch in 1987, where he held various positions within equity derivatives and capital markets until 2003. In his last two years there, he served as co-Head of Global Equity Markets and as a member of the Executive Management Committee for Global Markets & Investment Banking. Mr. Ermotti is a Swiss-certified banking expert and is a graduate of the Advanced Management Programme at Oxford University.

Other activities and functions

  • Board member of UBS Switzerland AG
  • Chairman of the UBS Optimus Foundation Board
  • Chairman of the Fondazione Ermotti, Lugano
  • Board member of the Swiss-American Chamber of Commerce
  • Board member of the Global Apprenticeship Network
  • Member of the Institut International d’Etudes Bancaires
  • Member of the Saïd Business School Global Leadership Council, University of Oxford

 


Group Chief Risk Officer

Christian Bluhm

Member of the UBS Group Executive Board since 2016

Year of initial appointment to UBS Group AG and UBS AG: 2016

Year of Birth | Nationality

1969 | German

Professional history and education

Christian Bluhm became a member of the GEB and was appointed Group Chief Risk Officer of UBS Group AG and UBS AG in January 2016. He joined UBS from FMS Wertmanagement, where he had been Chief Risk & Financial Officer since 2010 and Spokesman of the Executive Board from 2012 to 2015. From 2004 to 2009, he worked for Credit Suisse, where he was Managing Director responsible for Credit Risk Management in Switzerland and Private Banking worldwide. Mr. Bluhm was Head of Credit Portfolio Management until 2008 and then Head of Credit Risk Management Analytics & Instruments after the financial crisis in 2008. From 2001 to 2004, he worked for Hypovereinsbank in Munich in Group Credit Portfolio Management, heading a team that specialized in Structured Finance Analytics. Before starting his banking career with Deutsche Bank in Credit Risk Management in 1999, he worked as a postdoctoral fellow at Cornell University in Ithaca and as a scientific assistant at the University of Greifswald. Mr. Bluhm holds a degree in mathematics and informatics from the University of Erlangen-Nuremberg and received his PhD in mathematics in 1996 from the same university.

Other activities and functions

  • Board member of UBS Switzerland AG
  • Chairman of the Foundation Board – International Financial Risk Institute

Group General Counsel

Markus U. Diethelm

Member of the UBS Group Executive Board since 2008

Year of initial appointment to UBS Group AG: 2014 (new holding company as of 2014)
Year of initial appointment to UBS AG: 2008

Year of Birth | Nationality

1957 | Swiss

Professional history and education

Markus U. Diethelm has been Group General Counsel of UBS Group AG since November 2014, having held the same position at UBS AG since September 2008, when he became a member of the GEB. He was Executive Board member of UBS Business Solutions AG from 2015 to 2016. From 1998 to 2008, he served as Group Chief Legal Officer at Swiss Re, and he was appointed to the company’s Group Executive Board in 2007. Prior to this, he was with Los Angeles-based law firm Gibson, Dunn & Crutcher and focused on corporate matters, securities transactions, litigation and regulatory investigations while working out of the firm’s Brussels and Paris offices. From 1989 to 1992, he practiced at Shearman & Sterling in New York, specializing in mergers and acquisitions. In 1988, he worked at Paul, Weiss, Rifkind, Wharton & Garrison in New York. After starting his career in 1983 with Bär & Karrer, he served as a law clerk at the District Court of Uster in Switzerland from 1984 to 1985. Mr. Diethelm holds a law degree from the University of Zurich and a master’s degree and a PhD from Stanford Law School. He is a qualified attorney-at-law admitted to the bar in Zurich, Geneva and in New York State.

Other activities and functions

  • Chairman of the Swiss-American Chamber of Commerce’s legal committee
  • Chairman of the Swiss Advisory Council of the American Swiss Foundation
  • Member of the Foundation Council of the UBS International Center of Economics in Society
  • Member of the Supervisory Board of the Fonds de Dotation LUMA / Arles

Group Chief Financial Officer

Kirt Gardner

Member of the UBS Group Executive Board since 2016

Year of initial appointment to UBS Group AG and UBS AG: 2016

Year of Birth | Nationality

1959 | American

Professional history and education

Kirt Gardner became a member of the GEB and was appointed Group Chief Financial Officer of UBS Group AG and UBS AG in January 2016. He was CFO Wealth Management from 2013 to 2015. Prior to this, he held a number of leadership positions at Citigroup, including CFO and Head of Strategy within Global Transaction Services from 2010 to 2013, Head of Strategy, Planning and Risk Strategy for the Corporate and Institutional Division from 2006 to 2010 and Head of Global Strategy and Cost Management for the Consumer Bank from 2004 to 2006. Prior to this, Mr. Gardner held the position of Global Head of Financial Services Strategy for BearingPoint, for which he worked in Asia and New York for four years. From 1994 to 2000, he was Managing Director with Barents Group, working in the US, Asia, Latin America and Europe. Mr. Gardner holds a bachelor’s degree in economics from Williams College, a master’s degree from the University of Pennsylvania and an MBA in finance from Wharton School.

Other activities and functions

  • Board member of UBS Business Solutions AG

President Asset Management

Suni Harford

Member of the UBS Group Executive Board since 2019

Year of initial appointment to UBS Group AG and UBS AG: 2019

Year of Birth | Nationality

1962 | American (US)

Professional history and education

Suni Harford became a member of the GEB and was appointed President Asset Management of UBS Group AG and UBS AG in October 2019. She has been with UBS since 2017 and joined as Group Managing Director and Head of Investments in the Asset Management business division. Before joining UBS, Ms. Harford worked for almost 25 years at Citigroup Inc. in various senior management positions: she was Regional Head of Markets for North Americas from 2008 to 2017, with responsibility for sales, trading, origination and research across all fixed income, currencies, commodities, equities and municipal businesses. She was also a member of Citi's Pension Plan Investment Committee and a Director on the Board of Citibank Canada. From 2004 to 2008, Ms. Harford was Global Head of Fixed Income Research and from 1995 to 2004, Co-Head Debt Capital Markets, Origination, Financial Institutions Group. She started her career as an investment banker at Merrill Lynch & Co in 1988. Ms. Harford holds an MBA from Tuck School of Business at Dartmouth and a bachelor’s degree in physics and mathematics from Denison University, Ohio.

Other activities and functions

  • Chairman of the Board of Directors of UBS Asset Management AG
  • Member of the Leadership Council of the Bob Woodruff Foundation
  • Member of the UBS Optimus Foundation Board

Co-President Investment Bank

Robert Karofsky

Member of the UBS Group Executive Board since 2018

Year of initial appointment to UBS Group AG and UBS AG: 2018

Year of Birth | Nationality

1967 | American (US)

Professional history and education

Robert Karofsky is co-President Investment Bank of UBS Group AG and UBS AG and became a member of the GEB in October 2018. He joined UBS in 2014 as Global Head Equities and has been President UBS Securities LLC since 2015. From 2011 to 2014, he was Global Head of Equity Trading at AllianceBernstein. He began his career at Morgan Stanley in 1994 and joined Deutsche Bank as Head of North American Equities in 2005, later becoming co-Head of Global Equities from 2008 to 2010. Mr. Karofsky holds a bachelor’s in economics from Hobart and William Smith Colleges and an MBA in finance and statistics from the University of Chicago’s Booth School of Business.

Other activities and functions

  • Board member of UBS Securities LLC
  • Trustee of the UBS Americas Inc. Political Action Committee

Group Chief Operating Officer and President UBS Europe, Middle East and Africa

Sabine Keller-Busse

Member of the UBS Group Executive Board since 2016

Year of initial appointment to UBS Group AG and UBS AG: 2016

Year of Birth | Nationality

1965 | Swiss and German

Professional history and education

Sabine Keller-Busse was appointed Group Chief Operating Officer of UBS Group AG and UBS AG as well as President of the Executive Board of UBS Business Solutions AG in January 2018. In addition, she was appointed President UBS Europe, Middle East and Africa in October 2019. She was Group Head Human Resources from August 2014 to December 2017. Ms. Keller-Busse became a member of the GEB in January 2016. Having joined UBS in 2010, she served as Chief Operating Officer UBS Switzerland until 2014. Prior to this, she led Credit Suisse’s Private Clients Region Zurich division for two years. From 1995 to 2008, she worked for McKinsey & Company, where she had been partner since 2002. Ms. Keller-Busse holds a master’s degree in business administration from the University of St. Gallen and received a PhD in business administration from the same university.

Other activities and functions

  • Member of the Supervisory Board of UBS Europe SE
  • Board member of UBS Business Solutions AG
  • Vice-Chairman of the Board of Directors of SIX Group (Chairman of the nomination & compensation committee)
  • Foundation Board member of the UBS Pension Fund
  • Board member of the University Hospital Zurich Foundation

Co-President Global Wealth Management

Iqbal Khan

Member of the UBS Group Executive Board since 2019

Year of initial appointment to UBS Group AG and UBS AG: 2019

Year of Birth | Nationality

1976 | Swiss

Professional history and education

Iqbal Khan became a member of the GEB and was appointed co-President Global Wealth Management of UBS Group AG and UBS AG in October 2019. Mr. Khan joined UBS from Credit Suisse, where he was CEO International Wealth Management from 2015 to 2019 and CFO Private Banking & Wealth Management from 2013 to 2015. Prior to that, he worked for Ernst & Young (EY), Switzerland, which he joined in 2001. At EY he was Managing Partner Assurance and Advisory Services – Financial Services, as well as being a member of the Swiss management committee from 2011 to 2013. Before that, from 2009 to 2011, he held the position of Industry Lead Partner Banking and Capital Markets, Switzerland and EMEA Private Banking. Mr. Khan holds an Advanced Master of International Business Law degree (LLM) from the University of Zurich. In addition, he is a Certified Financial Analyst, a Swiss Certified Public Accountant and a Swiss Certified Trustee.

Other activities and functions

  • Board member Room To Read Switzerland

President UBS Asia Pacific

Edmund Koh

Member of the UBS Group Executive Board since 2019

Year of initial appointment to UBS Group AG and UBS AG: 2019

Year of Birth | Nationality

1960 | Singaporean

Professional history and education

Edmund Koh became a member of the GEB and was appointed President UBS Asia Pacific of UBS Group AG and UBS AG in January 2019. He was Head Wealth Management Asia Pacific from 2016 to 2018 as well as Country Head Singapore from 2012 to 2018. Mr. Koh has more than 30 years’ experience in senior roles in financial services. He joined UBS in 2012 as Head Wealth Management South East Asia and Asia Pacific Hub and Country Head Singapore from Taiwan-based Ta Chong Bank, where he served as President and Director from 2008 to 2011. From 2001 to 2008, Mr. Koh was Managing Director and Regional Head Consumer Banking of DBS Bank in Singapore. In 2001, he became CEO of Alverdine Pte Ltd and two years earlier he held the same position for Prudential Assurance, both companies based in Singapore. Mr. Koh holds a bachelor of science degree in psychology from the University of Toronto.

Other activities and functions

  • Member of the Wealth Management Institute at Nanyang Technological University, Singapore
  • Member of the Ministry of Finance’s Committee on the Future Economy Sub-Committees
  • Board member of Next50 Limited
  • Trustee of the Cultural Matching Fund
  • Board member of Medico Suites (S) Pte Ltd
  • Board member of Medico Republic (S) Pte Ltd

President Personal & Corporate Banking and President UBS Switzerland

Axel P. Lehmann

Member of the UBS Group Executive Board since 2016

Year of initial appointment to UBS Group AG and UBS AG: 2016

Year of Birth | Nationality

1959 | Swiss

Professional history and education

Axel P. Lehmann was appointed President Personal & Corporate Banking of UBS Group AG and President UBS Switzerland as of January 2018, in addition to taking over as President of the Executive Board of UBS Switzerland AG. He became a member of the GEB and was appointed Group Chief Operating Officer of UBS Group AG and UBS AG in January 2016. He was a member of the BoD of UBS AG from 2009 to 2015 and of UBS Group AG from 2014 to 2015 and was a member of both the Risk Committee and the Governance and Nominating Committee. Mr. Lehmann became a member of Zurich Insurance Group’s (Zurich) Group Executive Committee in 2002, holding various management positions, including CEO for the European and North America businesses. From 2008 to 2015, he was Chief Risk Officer with additional responsibilities for Group IT, Regional Chairman for Europe, Middle East and Africa as well as Chairman for Farmers Group Inc. In 2001, he was appointed CEO for Northern, Central and Eastern Europe and Zurich Group Germany, having served as a member of the company’s Group Management Board since 2000 with responsibility for group-wide business development functions. In 1996, he joined Zurich as a member of the Executive Committee Switzerland, and previously, he was head of corporate planning and controlling at SwissLife, Vice President of the Institute of Insurance Economics and a visiting professor at Bocconi University in Milan. Mr. Lehmann holds a PhD and a master’s degree in business administration and economics from the University of St. Gallen. He is also a graduate of the Advanced Management Program of the Wharton School.

Other activities and functions

  • Co-Chair of the Global Future Council on Financial and Monetary Systems of WEF
  • Adjunct professor and Chairman of the Board of the Institute of Insurance Economics at the University of St. Gallen
  • Member of the HSG Advisory Board of the University of St. Gallen
  • Vice Chairman of the Swiss Finance Institute Foundation Board
  • Member of the IMD Foundation Board, Lausanne
  • Member of the Board and Board Committee, Zurich Chamber of Commerce
  • Member of the Swiss-American Chamber of Commerce Chapter Doing Business in USA

Co-President Global Wealth Management and President UBS Americas

Tom Naratil

Member of the UBS Group Executive Board since 2011

Year of initial appointment to UBS Group AG: 2014 (new holding company as of 2014)
Year of initial appointment to UBS AG: 2011

Year of Birth | Nationality

1961 | American (US)

Professional history and education

Tom Naratil became co-President of Global Wealth Management of UBS Group AG and UBS AG in February 2018. In January 2018, he became CEO of UBS Americas Holding LLC. He was appointed President UBS Americas of UBS Group AG and UBS AG in January 2016 and served as President Wealth Management Americas from 2016 to 2018. He became a member of the GEB in June 2011 and was Group CFO of UBS AG from 2011 to 2015. He held the same position for UBS Group AG from 2014 to 2015. In addition to the role of Group CFO, he was Group Chief Operating Officer from 2014 to 2015. Mr. Naratil was President of the Executive Board of UBS Business Solutions AG from 2015 to March 2016. He served as CFO and Chief Risk Officer of Wealth Management Americas from 2009 until his appointment as Group CFO in 2011. Before 2009, he held various senior management positions within UBS, including heading the Auction Rate Securities Solutions Group during the financial crisis in 2008. Mr. Naratil was named Global Head of Marketing, Segment & Client Development in 2007, Global Head of Market Strategy & Development in 2005, and Director of Banking and Transactional Solutions, Wealth Management USA, in 2002. During this time, he was a member of the Group Managing Board. He joined Paine Webber Incorporated in 1983 and after the merger with UBS became Director of the Investment Products Group. Mr. Naratil holds an MBA in economics from New York University and a bachelor of arts in history from Yale University.

Other activities and functions

  • Board member of UBS Americas Holding LLC
  • Board member of the American Swiss Foundation
  • Member of the Board of Consultors for the College of Nursing at Villanova University

Co-President Investment Bank

Piero Novelli

Member of the UBS Group Executive Board since 2018

Year of initial appointment to UBS Group AG and UBS AG: 2018

Year of Birth | Nationality

1965 | Italian

Professional history and education

Piero Novelli is co-President Investment Bank of UBS Group AG and UBS AG and became a member of the GEB in October 2018. He was appointed co-Executive Chairman Global Investment Banking, Corporate Client Solutions, in 2017, and the year before became sole Global Head Advisory Services including Global Mergers and Acquisitions (M&A). Mr. Novelli rejoined UBS in 2013 as Chairman Global M&A as well as Group Managing Director. From 2011 to 2012, he was Global co-Head of M&A at Nomura, having worked as Global Head M&A at UBS between 2004 and 2009. Before that he worked for Merrill Lynch and held the position of Head of European M&A and Head of European Industrials. Mr. Novelli holds a master‘s degree in management from the MIT Sloan School of Management and a master’s degree in mechanical engineering from Università degli Studi di Roma.


Group Chief Compliance and Governance Officer

Markus Ronner

Member of the UBS Group Executive Board since 2018

Year of initial appointment to UBS Group AG and UBS AG: 2018

Year of Birth | Nationality

1965 | Swiss

Professional history and education

Markus Ronner is Group Chief Compliance and Governance Officer of UBS Group AG and UBS AG and became a member of the GEB in November 2018. In this role, he is responsible at Group level for compliance and operational risk control, governmental and regulatory affairs as well as investigations and governance matters. He became Head Group Regulatory and Governance in 2012. During his 37 years with UBS, Mr. Ronner has held various positions across the bank, including: Group-wide program manager “too big to fail” (2011–2013); Chief Operating Officer (COO) Wealth Management & Swiss Bank (2010–2011); Head Products and Services of Wealth Management & Swiss Bank (2009–2010); COO Asset Management (2007–2009); and Head Group Internal Audit (2001–2007). Mr. Ronner joined the firm as an apprentice in 1981 and holds a Swiss Banking Diploma.


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