Ralph Hamers is making the second major change to UBS' management since taking over. He also anointed a point person for his digital overhaul of the Swiss bank.
The Swiss bank's technology boss Mike Dargan will take on the operational side of his boss Sabine Keller-Busse's old job, while she will keep the strategy component, according to a memo seen by finews.com and first reported by «Bloomberg».
Keller-Busse advanced from operating chief to head the Swiss business last month. She will continue to represent the chief operating officer role on UBS's top management for a «transitional phase,» UBS CEO Hamers, who took over 12 weeks ago, wrote in the memo.
New Transformation Head
Hamers also appointed Chris Gelvin (pictured below) chief transformation officer, in addition to his current job as head of group operations. A 15-year veteran of UBS, Gelvin will report to Hamers in the job «to support the implementation of our new group executive board-sponsored workstreams and coordinate the initiatives as they move from planning to execution over time,» Hamers said.
Hamers said at UBS' fourth-quarter results on Tuesday he would provide updates on strategy in the second quarter and would make the future organization of the COO role dependent on the overhaul. He wrote in the memo that Keller-Busse and Dargan's dividing of the job is a temporary fix.
