At its Annual General Meeting on 23 April 2008 the UBS board of directors will propose David Sidwell for election to the board as a non-executive member.
Sidwell, born in 1953, retired as chief financial officer and a member of the management committee at Morgan Stanley at the end of 2007.
In this role he led a finance function of 3,000 professionals and played a central role in Morgan Stanley’s efforts to improve its risk-taking and capital allocation through his performance evaluation of its businesses. He also devised and ensured the approval and execution of the strategic plan for acquisitions, divestitures and growth areas.
“David Sidwell has an extensive background in the areas of risk management, financial control as well as strong relationships with key regulatory bodies globally. He is a keen strategist and possesses broad insights and perspectives across all banking operations. This extensive banking expertise will only further strengthen our board. I’m pleased that he is willing to stand for election,” says Marcel Ospel, the chairman of the board of UBS.
After the merger of JP Morgan with Chase, and until he left the firm in March 2004, he was chief financial officer of the Investment Bank. His responsibilities included strategic analysis and planning and the implementation of the risk management process as well as financial control.