Weber says UBS should consider a chairwoman when he leaves

Weber says UBS should consider a chairwoman when he leaves
The bank is planning to appoint a successor to Chairman Axel Weber, 64, at its annual general meeting next year.
MAY 06, 2021
By  Bloomberg

UBS Group Chairman Axel Weber suggested the bank should consider appointing a chairwoman after he exits next year as the bank seeks to address a lack of gender diversity on its board.

“My own transition is a good chance for the bank to onboard a chairwoman, and I’m very committed to looking at that,” Weber said at the DIW Women in Finance conference Thursday.

UBS is planning to appoint the successor to Weber, 64, at the annual general meeting next year.

Weber, who is himself involved in the search process along with Chief Executive Ralph Hamers, plans to step down after 10 years. The search for his successor started early this year and is being led by senior independent director Jeremy Anderson.

When Weber started at UBS, the bank planned to have women accounting for at least half of the board of directors, he said at the event. So far, the lender has only managed one-third, he said.

Latest News

RIA moves: RWA Wealth Partners strengthens leadership as $8B Procyon widens Northeast footprint
RIA moves: RWA Wealth Partners strengthens leadership as $8B Procyon widens Northeast footprint

The Dynasty Financial partner firm's latest deal in Connecticut adds roughly $600 million in client assets.

Cetera names Richard Vogel to lead Cetera Advisors community
Cetera names Richard Vogel to lead Cetera Advisors community

The giant broker dealer and RIA overseeing roughly $554 billion in AUA has appointed a Merrill and BofA alum to support advisor growth.

Robinhood in talks with regulators over tokenized US equities
Robinhood in talks with regulators over tokenized US equities

Firm's CEO is confident SEC can approve without legislation.

Five-person Raymond James team jumps to Janney in Maryland
Five-person Raymond James team jumps to Janney in Maryland

The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.

$20B Merit looks to next phase as Constellation takes minority stake
$20B Merit looks to next phase as Constellation takes minority stake

The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC's Aspire Holdings exited their investments.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.