There is about to be a change to the board at UBS. The longest serving member is no longer standing for re-election. Instead, a financial expert is set to take his place, and she already has strong ties with the major bank.
Swiss banking giant UBS will put forward Gail Kelly for election to the board of directors at the Annual General Meeting on April 24th 2024. At the same time, Dieter Wemmer is no longer standing for re-election to the UBS Group and UBS AG boards. This was announced by the bank in a press release on Friday.
Kelly, born in 1956, can look back on over 35 years in banking. She was the CEO and managing director of two Australian banks, St. George Bank from 2002 until 2007 and Westpac from 2008 until 2015.
Vast Experience with Mergers
During her time as CEO, she navigated Westpac through the challenges of the global financial crisis and managed the merger with St. George Bank in 2008 – the largest merger in Australia’s financial services sector. Following her active career, Kelly continued to hold a series of roles which allowed her to incorporate her experiences as a manager.
From 2016 until 2023, she worked as senior global advisor for UBS CEO Sergio Ermotti and the group’s executive board. She holds a Bachelor of Arts from the University of Cape Town and a Master of Business Administration from the University of Witwatersrand in South Africa. Kelly is an Australian citizen.
Wemmer, who has been in office since 2016, is the longest serving member of the board.
