New chairman and CEO for UBS Investment Bank

He arrives from Morgan Stanley, where he was vice-chairman for Europe. During his 22-year career at the New York-based bank, Johansson also held the roles of head of institutional equity, and co-head of the combined equity and fixed-income sales and trading businesses.

“The current turbulence in financial markets represents a challenge, but also a huge opportunity for well-run firms, and I look forward to leading UBS's investment bank to a prosperous future,” said Johansson.

At the same time, UBS appointed the following to its group executive board: Robert Wolf, president and chief operating officer of UBS Investment Bank; Alexander Wilmot–Sitwell, joint global head, investment banking department, UBS Investment Bank; and Marten Hoekstra, deputy CEO of global wealth management and business banking.

See also:
UBS startles market with $14 billion writedown
UBS launches Greenhouse Index

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