UBS hires Finma banks chief amid risk reorg

Schoch move comes after bank carves op risk and compliance unit out of central risk function

ubs-switzerland-2016

UBS has hired the head of banking supervision at Switzerland’s Finma, the bank’s primary supervisor, as its head of regulatory affairs. The move comes amid a broader reorganisation of the bank’s risk function that has effectively seen it divide responsibility for its management of financial and non-financial risks – partially reversing a move begun in 2013 to centralise oversight of both facets.

Michael Schoch joined the bank in February after completing a compulsory six-month cooling-off

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