UBS has nominated a French banker and a risk specialist to replace two board members who are due to step down from their positions.
David Sidwell and Isabelle Romy have decided to step down from the board of UBS, Switzerland’s largest bank. The company nominated Nathalie Rachou (pictured below) and Mark Hughes as their successors, the bank said in a statement on Friday.
(Bild: flickr)
Rachou, 63, made a career in French banking, first at Banque Indosuez and Crédit Agricole Indosuez, last as member of the board at Société Générale. Her mandate at Société Générale is expiring in May.
Experience and Expertise
Hughes (pictured below) currently is head of the Global Risk Institute. Until 2018, the banker, 62, was chief risk officer and member of the executive at Royal Bank of Canada, where he had spent his entire working career.
«They will add a wealth of knowledge and experience from across the banking sector and geographies, with a particularly deep understanding of risk management,» said Axel Weber, chairman of the UBS board, according to the statement.
U.S. banker Sidwell will step after 12 years on the board of UBS, while Swiss academic Romy had been a member for eight years.
