UBS appoints Damian Vogel to its board as head of risk management, replacing the current CRO, who is stepping down to focus on academia and photography. According to a statement from UBS on Tuesday.
Damian Vogel succeeds Christian Bluhm as UBS’s chief risk officer and will join the board at the beginning of May. Both will work closely together to ensure a smooth transition, UBS continued.
Vogel is currently Chief Risk Officer of Global Wealth Management (GWM) and joined UBS in 2010. He holds various risk management positions in GWM, private and corporate banking, and Swiss business.
Usually, when such announcements are made about management changes, the comment is “more time with family” or something equally banal. In Bluhm’s case, he is retiring to focus (no pun intended) on his photography business. In addition, he is exploring opportunities in the university world.
Bluhm has served as CFO of the group since 2016 and led the department to introduce advanced analytics, digitization, and artificial intelligence.
The restructuring of the board of the 12-member group led by CEO Ralph Hamers continues. Sarah Youngwood was appointed CFO in May, and Barbara Levi was appointed General Counsel last November.
Group Chief Executive Officer Ralph Hamers: “I’m delighted to welcome Damian Vogel to the UBS Group Executive Board as our new Group Chief Risk Officer.
With his strong track record, in-depth risk expertise, and experience across all asset classes, Damian is ideally suited to lead our risk function into the future. I’d also like to personally thank Christian for his leadership and commitment over the last six years and for the significant contributions he and his team have made to our sustainable performance through active risk management. I wish him all the best for the future.”
Hamers’ predecessor, Sergio Ermotti, appointed Robert Karofsky, head of investment banking; Suni Harford, head of wealth management; Iqbal Khan, head of GWM; Markus Ronner, head of compliance; and Edmund Koh, head of Asia Pacific.
Know more about Global Finance Industry insights and news
