UBS chairman steps down

Resignation letter

UBS chairman Kaspar Villiger will not stand for re-election at the bank's upcoming annual general meeting (AGM), the bank announced today.

Villiger has held the role of chairman since April 2009, when he was nominated to succeed his predecessor Peter Kurer. Bruno Gehrig, who has been a fellow member of the board of directors since 2008, will also step down before the AGM on May 3.

To fill the resulting vacancies, the bank has nominated Beatrice Weder di Mauro and Isabelle Romy for election –

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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