The shareholders of UBS Group AG approved all of the Board of Directors’ proposals at the AGM held earlier today. The shareholders elected Colm Kelleher as new Chairman, with 97.74% of the votes cast in favor of the proposal for his appointment.

Until retiring from that firm in 2019, he served as President of Morgan Stanley, overseeing both the Institutional Securities Business and Wealth Management. Before that, he was Co-President and then President of Morgan Stanley Institutional Securities. During the global financial crisis of 2007 to 2009, he held the position of CFO and Co-Head Corporate Strategy.

Mr. Kelleher is a well-respected leader in the financial services sector. His 30-year career with Morgan Stanley attests to his solid leadership experience in banking and excellent relationships around the world. He has a deep understanding of the global banking landscape and broad banking experience across all the geographic regions and major business areas in which UBS operates.

Colm Kelleher succeeds Axel A. Weber, who has reached the maximum term limit after ten years in office and did not stand for re-election.