UBS nominates Nathalie Rachou and Mark Hughes for election to Board of Directors

Maria Nikolova

David Sidwell and Isabelle Romy will not stand for re-election.

UBS AG (SWX:UBSN) has just unveiled a set of changes to its Board of Directors, as Nathalie Rachou and Mark Hughes will be nominated for election to the UBS Board at the forthcoming Annual General Meeting.

Nathalie Rachou has been a member of the Board of Directors at Société Générale and will step down from that position on 19 May, 2020. In 1999, she founded Topiary Finance Ltd., a London-based asset management company which merged with the investment company Rouvier Associés in 2014. She retains a role as senior advisor to the firm. From 1978 to 1999, she held a number of positions within Banque Indosuez and Crédit Agricole Indosuez, including roles in capital markets and as Chief Operating Officer of the brokerage subsidiary of Banque Indosuez.

Ms Rachou graduated from HEC in Paris with a master’s degree in management and holds an executive MBA from Insead.

Mark Hughes was Group Chief Risk Officer of Royal Bank of Canada (RBC) from 2014 to 2018 and is currently chair of the Global Risk Institute and a visiting lecturer at Leeds University. He joined RBC in 1981 and spent his entire career working for the bank in Canada, the US and the UK. He held various senior leadership positions such as Chief Operating Officer Capital Markets and Head of Global Credit. For more than 20 years, Mark Hughes has served on RBC’s subsidiary boards. Mark Hughes received his MBA in finance from Manchester Business School and his LLB from Leeds University, both in England.

David Sidwell and Isabelle Romy will not stand for re-election. David Sidwell will have completed a twelve year term of office. Isabelle Romy has decided to step down after eight years on the UBS Board.

UBS Chairman Axel Weber said:

“David has been an important pillar of the Board through a challenging period in the firm’s history, serving as chair of the Risk Committee, Senior Independent Director, Vice Chairman, and a member of the Governance and Nominating Committee. He has been instrumental in the strategic repositioning of UBS and has contributed greatly to the fundamental improvements in the firm’s risk and control frameworks”.

“Isabelle has contributed her excellent legal expertise to the Board and served as a member of the Audit Committee as well as Governance and Nominating Committee. We thank both David and Isabelle for their commitment, invaluable collaboration and outstanding service, and wish them all the best for their future endeavors,” Mr Weber added.

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