Ulrich Körner Will Spearhead UBS Corporate Center

UBS will integrate its group wide infrastructure and service functions (IT, Human Resources, Procurement, Real Estate and Facility Management) into Corporate Center and will centralize the management of its control functions (Finance, Risk, Legal and Compliance). Ulrich Krner has been

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UBS will integrate its group-wide infrastructure and service functions (IT, Human Resources, Procurement, Real Estate and Facility Management) into Corporate Center and will centralize the management of its control functions (Finance, Risk, Legal and Compliance).

Ulrich Krner has been appointed Group Chief Operating Officer and a member of the Group Executive Board with immediate effect. He will lead the Corporate Center in this function and serve on the Group Executive Committee of the bank.

Ulrich Krner (1962), a German-Swiss dual citizen, has been with Credit Suisse since 1998 and has served as a member of the executive management of the Credit Suisse Group for the last five years. He held various management positions, including CFO and COO of Credit Suisse. Most recently, he was responsible for the entire Swiss client business as CEO of the Switzerland region.

In his new function he will be responsible for the service units centralized in Corporate Center as well as for the cross-divisional departments and projects of UBS. In addition, he will support the Group CEO and the CEOs of UBS’s business divisions with the development and implementation of strategy.

Walter Stuerzinger, currently Chief Operating Officer of Corporate Center, will leave the Group Executive Board. He has committed himself to supporting the Group COO with the development of Group-wide measures to enhance profitability and cost efficiency.

“Ulrich Krner brings, in addition to comprehensive managerial and banking know-how and client business knowledge, extensive expertise in the relevant processes, systems and technologies,” says Oswald J. Grbel, Group CEO. “In addition he possesses a critical mindset and sharp intellect. I am convinced that he will be a valuable addition to our management team.”

L.D.

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