The changes come at a time when the bank, like many of its peers, has had to tackle the challenges and opportunities of AI.

UBS announced yesterday that Chris Gelvin will act as interim head for group technology at the firm, adding to his chief operating officer, group technology role. 

The Zurich-listed bank made the move because Mike Dargan has decided to step down as group chief operations and technology officer at the end of this month. Dargan is pursuing an opportunity outside the bank, it said in a statement. 

In his capacity as interim head for group technology, Gelvin will report to Beatriz Martin when she takes up her new role as group chief operating officer on 1 January 2026, UBS said. 

“Mike [Dargan] has been instrumental in positioning our technology as a driver of business growth and resilience and progressing the firm’s strategic shift towards AI and digitisation,” Sergio Ermotti, CEO, said. “I would like to thank Mike for his significant contributions to UBS and wish him all the best for his future. I also congratulate Bea on her expanded responsibilities and thank her for her ongoing leadership.”

The bank flagged its AI ambitions in October when it announced that it had appointed Daniele Magazzeni as chief artificial intelligence officer to advance the firm’s AI strategy, boost innovation and increase adoption of new technologies, effective 1 January 2026. Magazzeni will be based in London.

Several wealth advisors, bankers and others in the industry are using AI in their work. For example, in a recent US private bank and trust companies report, Cerulli Associates said that advisors and home-office executives at banks have increased their use of AI for assisting with data reviewing and directly in portfolio construction and asset allocation.