BRUSSELS (dpa-AFX) - Swiss banking major UBS Group AG (UBS) announced on Friday that it has appointed Roger von Mentlen as the chairman of board of directors of UBS Switzerland AG and Credit Suisse (Schweiz) AG.
The change follows UBS's announcement in August to integrate the Swiss business of Credit Suisse fully into its existing business. The Boards of both Swiss banks will be restructured and harmonized as of November 1.
UBS expects the legal merger between UBS Switzerland and Credit Suisse (Schweiz) to take place in 2024.
In his new role, Mentlen will succeed Markus Ronner, Chairman of UBS Switzerland since 2022, and Peter Derendinger, Chairman of Credit Suisse (Schweiz) AG since March 2019.
Mentlen has over 40 years of experience at UBS and has been in the board of directors since 2020.
On Thursday, UBS shares closed at $23.75, down 1.25% on the New York Stock Exchange.
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