UBS hires Credit Suisse banker for its executive board

Körner has been with Credit Suisse since 1998 and served as chief financial officer and COO; most recently he was chief executive of the bank's Swiss operations. 

At UBS, he will manage the corporate centre unit, encompassing IT, human resources, procurement, real estate and facilities management. He will also work across the bank's business lines on the development and implementation of strategy.

"Ulrich Körner brings, in addition to comprehensive managerial and banking know-how and client business knowledge, extensive expertise in the relevant processes, systems and technologies," said group chief executive Oswald Grübel.

The appointment comes just a month after Grübel, formerly chief executive of Credit Suisse, was named group chief executive of UBS following the resignation of Marcel Rohner.

See also: Board reshuffle at UBS
UBS’s chairman to follow CEO out
UBS replaces CEO

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