UBS has appointed Jerker Johansson as chairman and CEO of its Investment Bank, and his appointment to the Group Executive Board.
He will take up his appointment from 17 March 2008 and will be based in London.
Johansson joins UBS from Morgan Stanley, where he was vice chairman, Europe. In his 22 year career at Morgan Stanley, Johansson was previously head of the Institutional Equity Division and co-head of the combined Equity and Fixed Income sales and trading businesses.
“We are delighted to announce the appointment of Jerker Johansson as head of the Investment Bank. Jerker brings with him the skills and experience to grow the world’s leading client driven investment bank. While this has been a difficult time for the Investment Bank, because of the losses in Fixed Income, we have continued to see strong performances in both our Equities and our Investment Banking divisions. I am confident that under Jerker’s leadership we will build on this performance and strengthen our position further in all areas. I very much look forward to working closely with Jerker in the GEB to the benefit of all of UBS’s clients,” says Marcel Rohner, group CEO, UBS.
“UBS is one of the world’s leading financial services firms, with powerful and deep positions across its chosen client segments and markets. The current turbulence in financial markets represents a challenge, but also a huge opportunity for well run firms, and I look forward to leading UBS’s Investment Bank to a prosperous future,” adds Johansson.
At the same time, to strengthen its management structure, UBS has made the following appointments to the Group Executive Board (GEB): Robert Wolf, chairman and CEO, UBS Group Americas and president and COO, Investment Bank, will join the GEB in his current role; Alexander WilmotSitwell, joint global head, Investment Banking Department, UBS Investment Bank, will also become chairman and CEO, UBS Group EMEA, and will join the GEB; and Marten Hoekstra, deputy CEO, Global Wealth Management & Business Banking and head of Wealth Management, Americas, will join the GEB in his current role.
“These appointments significantly strengthen the management structure of the firm. The new composition of the Group Executive Board reflects the breadth of the businesses and the markets we operate in, ensuring continuous, excellent execution against our strategic vision. I am delighted to welcome Jerker, Robert, Alex and Marten to their new roles,” says Rohner.