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UBS nominates ex-Morgan Stanley No. 2 Kelleher as next chair

November 22, 2021

UBS on Saturday nominated former Morgan Stanley President Colm Kelleher to become its next chairman — a move that could be solidified through a vote at the Swiss bank’s annual shareholder meeting April 6.

The bank — the world’s largest wealth manager — had been looking, by the end of the year, to propose a successor to its current chairman, Axel Weber, who is stepping down after a 10-year run. But Kelleher’s name wasn’t the first to be linked to the role. Reuters reported Friday that former UniCredit CEO Jean Pierre Mustier was on the shortlist to lead UBS’s board of directors.

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