UBS has hired former Credit Suisse bigwig Ulrich Korner as its group chief operating officer and chief executive officer of the corporate centre. Korner will have a broad remit which seems focused on cost-cutting.
UBS also announced yesterday it will integrate its group-wide infrastructure and service functions into a corporate centre and will centralise the management of its control functions namely finance, risk, legal and compliance.
Korner has been appointed group COO and a member of the group executive board effective immediately.
Korner joined Credit Suisse in 1998. He was a member of the bank's executive management for the last five years and held various management positions, including chief financial officer and COO. He...
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