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Tags: EU | Switzerland | UBS

Ex-Bundesbank Boss Weber to Chair UBS

Friday, 01 July 2011 09:47 AM EDT

Switzerland's biggest bank, UBS AG, has tapped former German central bank chief Axel Weber as its next chairman.

UBS said Friday that Weber will be nominated for election to its board of directors next May. If elected, he will be proposed to succeed current chairman Kaspar Villiger — a former Swiss president — in 2013.

Villiger says Weber "has extremely broad expertise in international finance and banking as well as strong leadership experience."

The 54-year-old Weber was widely viewed as a favorite to lead the European Central Bank until he decided in February to step down as Bundesbank president.

Weber put himself at odds with European colleagues by publicly voicing unease over the ECB's program, launched last year, to buy bonds of troubled eurozone countries and calling for it to be stopped.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


FinanceNews
Switzerland's biggest bank, UBS AG, has tapped former German central bank chief Axel Weber as its next chairman.UBS said Friday that Weber will be nominated for election to its board of directors next May. If elected, he will be proposed to succeed current chairman Kaspar...
EU,Switzerland,UBS
130
2011-47-01
Friday, 01 July 2011 09:47 AM
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