UBS nominates Australian banking executive to board

Westpac Banking Corp Chief Executive Officer Gail Kelly speaks during a media conference in Sydney November 4, 2013. REUTERS/David Gray/File Photo

ZURICH (Reuters) -UBS has nominated Australian financial executive Gail Kelly to its board, the Swiss bank said on Friday, highlighting her experience of navigating banking mergers.

The appointment could prove helpful to UBS, which is currently integrating Credit Suisse following its takeover last year.

Kelly, who has been a senior global advisor to UBS since 2023, was previously chief executive at St George Bank and Westpac Bank Corporation in Australia.

During her CEO tenure, she navigated the merger of the two banks in 2008, the largest financial services merger in Australia, UBS said.

“As one of the most influential voices in the Asia Pacific financial industry and an acknowledged leader, Gail has an outstanding reputation and is recognized as an excellent bank CEO who successfully navigated a merger,” said UBS Chairman Colm Kelleher in a statement.

A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. REUTERS/Denis Balibouse/File Photo

UBS also said on Friday that its longest serving director had decided to stand down after eight years on the board.

Dieter Wemmer will not stand for re-election at its shareholder meeting on April 24. He joined the UBS board in 2016.

(Reporting by John Revill, Editing by Rachel More)