WASHINGTON (dpa-AFX) - Swiss banking major UBS Group AG (UBS) announced Monday that Mike Dargan, Group Chief Operations and Technology Officer, has decided to step down from his role at the end of December to pursue an opportunity outside of the company.
Chris Gelvin will act as interim Head Group Technology, in addition to his current role of Chief Operating Officer, Group Technology, until the appointment of a permanent successor.
The company noted that the Group Technology function will report into Beatriz Martin, who takes up her new role as Group Chief Operating Officer on January 1, 2026.
According to the firm, adding Group Technology to the Group COO portfolio is expected to support smooth end-to-end operations, and prioritize initiatives related to technology and artificial intelligence. It will also ensure a smooth completion of the remaining technology integration process.
Group CEO Sergio Ermotti said, 'Mike has been instrumental in positioning our technology as a driver of business growth and resilience and progressing the firm's strategic shift towards AI and digitization. I would like to thank Mike for his significant contributions to UBS and wish him all the best for this future. I also congratulate Bea on her expanded responsibilities and thank her for her ongoing leadership.'
On the Swiss stock exchange, UBS Group shares closed Monday's regular trading at 34.16 Swiss francs, down 0.50%.
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