UBS has appointed Mark Hammarskjold and Michael Maag as Co-Heads of Global Banking Switzerland, according to an internal memo seen by finews.

Hammarskjold assumes the role with immediate effect, while Maag will join the Swiss bank in October.

The two will succeed Marco Superina and report regionally to Jens Haas, Head of Investment Bank Switzerland.

Hammarskjold has been with UBS since 2005 and has played a key role in the bank’s Swiss equity capital markets business. He has also supported major ECM transactions across Europe, the Middle East and Africa. In addition to his new role, he will remain Chairman of EMEA ECM.

Maag Joins From Alantra

Maag most recently led Alantra’s Swiss business. Before that, he was Head of Investment Banking Switzerland at Morgan Stanley and previously held roles at Goldman Sachs.

His experience in strategic advisory and mergers and acquisitions is expected to strengthen UBS’s local client network and help the bank capture more cross-border opportunities.

Switzerland Remains Key Market

The appointments underline the importance of Switzerland within UBS’s Global Banking business in EMEA.

The bank sees further long-term growth potential in its home market, including through closer collaboration with its Personal & Corporate Banking and Global Wealth Management divisions.