UBS Group has named Martin Blessing as the new head of its wealth management business, replacing Juerg Zeltner who will retire next year after working for more than three decades with the company.
Blessing currently serves as the president of personal and corporate banking and president of UBS Switzerland, a role that will now be handed over to group COO Axel Lehmann.
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Blessing, the former head of German lender Commerzbank, has managed the Swiss operations of UBS since September 2016. Lehmann worked for almost 20 years at Zurich Insurance Group prior to joining UBS.
Meanwhile, Lehmann will be replaced as group COO by Sabine Keller-Busse, who previously was COO of UBS Switzerland.
In addition, the firm also expanded the scope of the group chief operating office to cover the group human resources function.
UBS group CEO Sergio Ermotti said: “I congratulate Sabine, Axel and Martin on their new roles. They’ve delivered excellent results and I’m convinced that their broad leadership skills will allow us to continue to deliver on our targets and capture future opportunities. I’d also like to thank Jürg for his outstanding contributions to UBS during more than 30 years of service.”
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