Swiss bank UBS appoints new CEO to strengthen influence on US market

UBS AG, Switzerland’s largest bank, has announced today the name of a new CEO of UBS Group Americas. According to the official statement starting from January Philip Lofts will lead the bank. Currently Philip Lofts works as a chief risk officer. Robert Wolf, a former CEO of the Americas will remain chairman of the region and president of the investment bank. 

Maureen Miskovic was appointed to the position of chief risk officer. She will be the first woman who joined the 13-member group executive board.

UBS decided to separate the positions of Americas chief executive and chairman to improve bank’s performance in the region.

“Given the importance of the Americas region, which has the largest concentration of UBS employees and is the world’s largest wealth-management market and investment-banking fee pool, we decided to broaden our senior leadership team,” Oswald Gruebel, UBS’s 66-year-old CEO.