UBS Group: Christian Bluhm To Continue As Chief Risk Officer, Executive Board Member

(RTTNews) - Swiss banking giant UBS Group AG (UBS) announced Monday that Christian Bluhm has agreed to remain in his role as Group Chief Risk Officer and as a member of the Group Executive Board for the foreseeable future, due to the planned acquisition of Credit Suisse (CS).

This will delay the handover to Damian Vogel that was originally planned for May 1.

Vogel has been appointed to the newly created role of Group Risk Control Head of Integration. In this role, he will lead risk control related integration activities and define the best possible set-up for the firm's combined Group Risk Control function.

Group Chief Executive Officer Sergio Ermotti said, "Having both senior risk leaders actively engaged will help ensure that we're well prepared and appropriately set up in an area that is crucial for our future success. I want to thank Christian for his readiness to continue in his role as Group Chief Risk Officer and Damian for his significant efforts in leading our integration efforts and designing our future risk function."

In Switzerland, UBS Group shares were trading at 18.32 Swiss francs, up 1.44 percent.