UBS has set out its course with the appointment of the management team that will drive the integration of Credit Suisse. Few industry insiders had these two female bankers on their list.
The new UBS team includes two female managers who have worked primarily in the UK, although Beatriz Martin Jimenez and Michelle Bereaux have more in common than having worked in the same office.
Both have been with UBS for years and spent a great deal of time working in the investment bank, holding key positions when the unit underwent restructuring and streamlining towards a «capital-light» model during Sergio Ermotti's first stint at UBS.
Front Row Seat
(Image: Linkedin)
«Bea» Martin (pictured above) assumes a key role as Head of Non-Core and Legacy and president of the EMEA region, in winding down areas that are unlikely to have a place in the «New UBS» in the longer term. However, she will continue in her role as Chief Executive UK and Group Treasurer until a successor is found there.
Martin has been with UBS for more than a decade, and in announcing her appointment, UBS highlighted her restructuring experience. In a career spanning more than a decade, she held several positions including Investment Bank chief of staff and chief operation officer UK and later globally under Investment Bank CEO Andrea Orcel. She had a front-row seat to the upheavals Orcel wrestled with.
Investment Banking Veteran
(Bild: Linkedin)
Bereaux (pictured above), a lawyer, has been with the firm even longer, holding various leadership roles at the investment bank during a career spanning nearly 23 years. Most recently, she was Global Chief Operating Officer (since 2020) and UK Country Head of the Asset Management division.
Now Bereaux becomes the Group's integration officer, having already been responsible for group-wide transformation projects, according to UBS.
Crossed paths with Koerner
Both Martin's and Bereaux's paths crossed with Ulrich Koerner's when he was a chief operating officer at UBS. Breaux was responsible for HR in the investment bank, and she often advocates for topics such as diversity, inclusion, or work-life balance.
