From: Communications, Corporate
Subject: UBS names Alex Wilmot-Sitwell and Carsten Kengeter as co-CEOs of its Investment Bank
Importance: High
Please find attached and below the text of a media release issued today:
Media Release
UBS names Alex Wilmot-Sitwell and Carsten Kengeter as co-CEOs of its Investment Bank
Jerker Johansson, CEO UBS Investment Bank, has resigned from UBS with immediate effect.
Zurich/Basel, 27 April 2009 – UBS today announced the appointment of Alex Wilmot-Sitwell and Carsten Kengeter as co-CEOs of its Investment Bank effective immediately.
Alex Wilmot-Sitwell joined the firm in 1996 and is a member of the Group Executive Board. He has been joint global head of the Investment Banking Department since November 2005 and Chairman and CEO of UBS Group Europe, Middle East & Africa (EMEA) since January 2008.
Carsten Kengeter joined UBS in September 2008 and is the joint global head of Fixed Income, Currencies and Commodities (FICC) within UBS Investment Bank. In his new role he will also be a member of the Group Executive Board.
Oswald J. Grübel, Group CEO of UBS, commented on the appointments:
“I would like to congratulate Alex and Carsten on their new roles. Under their joint leadership we will continue to build on the strong core businesses of our Investment Bank and remediate our legacy risks. Our Investment Bank is indispensable to our global firm and to our integrated business model.”
Jerker Johansson has resigned from his role as CEO of the Investment Bank with immediate effect. He joined UBS in March 2008 and was a member of UBS’s Group Executive Board.
“I would like to thank Jerker for his great efforts and his valuable contribution to the repositioning of our Investment Bank,” Grübel said.
Cold…
The King is dead. Long like the King.
Can’t they find someone with a normal name…..I think that may be UBS’s whole problem…..
Anyone at UBS care to explain why this happened? Not like the losses happened on this guy’s watch.
too long, didn’t jerk
I don’t see anything wrong with Jerker’s name.
~Jack Mahogoff
Bar-F Enterprises
@3 lol
Agree w/@6. “Name-ism” can be brutal unless you have a strong sense of self.
~Felton Grabder
Intercourse, PA
They have a ‘big’ problem on (in) their hands.
- Dixie Normous
Credit Suisse is the new killing it.
I say that those of us with “unusual” names should show solidarity.
-Neil Downenbyter
It is a sin to judge a person by his name.
-Biggus Dickus
A real tear Jerker.
have there been IBD layoffs yet?
jerking the gherkin !
UBS = you be spankin!
Has nothing to do with his unfortunate name. It’s just that UBS likes to fire people at the top before anyone mistakes them for leaders.
dude didn’t get a bonus last year and said ‘fuck this place’ like every other employee with half a brain there. after his garden leave i’m sure he’ll land somewhere else. they should rename it to UBZ, union bank of zombies, that’s who’s left!