UBS Investment Bank - Key Appointments

UBS has announced the appointment of Alex Wilmot-Sitwell as Co-Chairman and Co-CEO of Asia Pacific.

UBS has announced the appointment of Alex Wilmot-Sitwell as Co-Chairman and Co-CEO of Asia Pacific. Alex will lead the region together with Chi-Won Yoon, current Chairman and CEO, Asia Pacific. Alex will be based in Hong Kong and will take over his new role on 1st November 2010. Carsten Kengeter, currently Co-CEO UBS Investment Bank, will become sole head of the Investment Bank.

Oswald J. Gruebel, Group Chief Executive Officer of UBS commented on the changes: “Asia Pacific is a key strategic priority for UBS. Alex’s strong leadership, relentless client focus and proven track-record, combined with Chi Won’s in-depth industry experience, commercial success and understanding of the region will ensure that we will continue growing our leading franchise."

Mr Gruebel added: “Alex and Carsten were instrumental in turning around the position of our Investment Bank. As such I am convinced that Carsten will continue leading the Investment Bank towards sustainable success in line with our mid-term targets.”

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