- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-04-24T16:06:00
UBS announced Monday that Christian Bluhm will remain in his role as group chief risk officer “for the foreseeable future” as the Swiss bank grapples with integrating new acquisition Credit Suisse into its business.
UBS in November announced Damian Vogel as Bluhm’s planned successor, effective May 2023. Bluhm was set to step down to focus on personal interests. The appointment came before the collapse of Silicon Valley Bank created chaos for the global banking industry, which eventually resulted in the planned sale of Credit Suisse to UBS.
UBS opted to appoint Vogel to the newly created role of group risk control head of integration. In this role, he will lead risk control-related integration activities and define the best possible setup for the firm’s combined group risk control function.
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A year of significant change in the Swiss banking sector, including the acquisition of Credit Suisse by UBS, has the country’s financial regulator prioritizing new risk areas on its radar.
Credit Suisse Securities agreed to pay $900,000 to settle charges levied by the Financial Industry Regulatory Authority regarding reporting and supervision lapses.
Senior leadership at UBS acknowledged the significant work ahead of Switzerland’s largest bank as it begins preparing to absorb the country’s second-largest bank, Credit Suisse.
