Swiss wealth management giant UBS has appointed JP Morgan senior executive Sarah Youngwood as its new group CFO.

Youngwood succeeds current Kirt Gardner, who has stepped down from the role to pursue other opportunities.

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Gardner will support Youngwood during her two-month onboarding period before leaving the firm in May 2022.

Youngwood served as CFO of JPMorgan Chase’s Consumer & Community Banking line of business since 2016.

Since last year, she was also responsible for leading finance for the firm’s global technology unit, as well as the diversity and inclusion team.

She was head of investor relations for JPMorgan Chase between 2012 and 2016.

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Prior to that, she served several roles in the Financial Institutions Group within JPM’s Investment Bank in Paris, London and New York.

UBS Group CEO Ralph Hamers said: “I want to personally thank Kirt for his leadership, commitment, and important contributions to UBS over the past nine years. He was instrumental in managing and maintaining the firm’s strong financial position and safeguarding client and investor trust through different market environments – and for being a role model for our culture. I wish him all the best in his future endeavors.

“I’m also excited to welcome Sarah Youngwood to the UBS team in her role as Group CFO and Group Executive Board member. With her strong track record, in-depth finance expertise, and experience across various banking areas, Sarah is ideally suited to lead our finance function into the future.”

Gardner joined UBS in 2013. He was named Group CFO and a member of the UBS Group executive board in January 2016.

He also served as CFO for UBS Wealth Management between 2013 and 2015.