Credit Suisse’s chief executive Ulrich Körner will become a member of the UBS Group executive board as part of a top management shake-up ahead of the completion of the Swiss bank’s planned takeover.
In a statement today (9 May), UBS said Körner will join the board upon transaction close, which the firm said will take place "in the next few weeks". He will be responsible for "ensuring Credit Suisse's operational continuity and client focus". Sarah Youngwood, current group chief financial officer at UBS, will leave the firm after the acquisition closes and be succeeded by Todd Tuckner, CFO of the bank's global wealth management business. UBS agrees to buy Credit Suisse for $3.3bn Iqbal Khan will continue to head the wealth business, Rob Karofsky the investment bank, and Suni Ha...
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