UBS has announced the appointment of a new chairman and chief executive officer of its investment bank. Jerker Johansson is to take up the positions, and will also become a member of the group executive board. Johansson will be based in London and his appointment will commence on 17 March 2008.
Johansson joins UBS from Morgan Stanley, where he was vice chairman, Europe. In his 22-year career at Morgan Stanley, Johansson was previously head of the institutional equity division and co-head of the combined equity and fixed income sales and trading businesses.
UBS has announced several further appointments to the group executive board. Robert Wolf, chairman and CEO, UBS Group Americas and president and chief operating officer, investment bank, will join the board in his current role.
Alexander Wilmot–Sitwell, joint global head, investment bank, will also become chairman and CEO, UBS group EMEA, and will join the board.
Marten Hoekstra, deputy CEO, global wealth management and business banking and head of wealth management, Americas, will join the board in his current role.
UBS says that these appointments will strengthen its management structure.