UBS picks former Morgan Stanley president as chairman

The bank had been aiming to pick a new chairman by the end of the year and shareholders must now approve the appointment of Kelleher at their annual meeting on April 6.

ZURICH: UBS named former Morgan Stanley president Colm Kelleher as its surprise pick to succeed Axel Weber as chairman of the world’s biggest wealth manager when his mandate ends in April.

Kelleher, an Irishman from County Cork, retired from his post at Morgan Stanley in 2019 after three decades at the United States investment bank, including as finance director during the global financial crisis, but stayed on as a special adviser.