Axel Lehmann completed a swift change from UBS to Credit Suisse, which he now chairs. He is still tied to his previous employer financially.
Credit Suisse new chairman Axel Lehmann was elected to the Swiss bank's board last October, shortly after giving up his role at UBS in February. The swiftness of the Swiss banker's move from the country's largest bank to its second-largest is underscored by financial ties.
Lehmann owed 331,677 shares of UBS at the end of 2020, «Sonntags-Zeitung» (behind paywall, in German) reported, and holds another 690,537 vested shares. The Swiss outlet calculated that this means UBS may owe him up to 17 million Swiss francs ($18.6 million).
The 63-year-old Bern native also took a 9.14 million loan from UBS, «Sonntags-Zeitung» reported. It isn't clear whether UBS still owes him the share payout, as Lehmann moved from an executive to a board role.
