The latest moves and appointments at Swiss bank UBS.

Damian Vogel is going to become a member of UBS's group executive board at the beginning of May 2023 and take on the role of group chief risk officer, after current CRO Christian Bluhm decided to step down.

Bluhm plans to focus on his photography business and to pursue opportunities in academia. He will work with Vogel over the coming months to ensure a smooth transition, the firm said in a statement.

Vogel is currently chief risk officer for UBS’s Global Wealth Management business. Since joining UBS in 2010, he has served in risk-related leadership roles across GWM and Personal & Corporate Banking, as well as for Switzerland, the firm continued. 

Voget, who has lived and worked in Switzerland and the US, holds a master of advanced studies in corporate finance from IFZ, Zug, Switzerland, and has completed the Stanford Executive Program.

Bluhm has been group chief risk officer since 2016. Under his leadership, the firm said its risk function has evolved into one that embraces advanced analytics, digitalization, and innovative technology, including artificial intelligence, to help us manage its risks effectively and efficiently and therefore protect its capital and reputation.

Welcoming the move, group chief executive officer Ralph Hamers said: “With his strong track record, in-depth risk expertise, and experience across all asset classes, he is ideally suited to lead our risk function into the future.” 

“I’d also like to personally thank Christian for his leadership and commitment over the last six years and for the significant contributions he and his team have made to our sustainable performance through active risk management. I wish him all the best for the future,” he continued.