The outgoings and arrivals at the bank come three years after UBS conducted its emergency takeover of Credit Suisse. The bank holds its AGM on 15 April where its nominations for the board will be voted upon.

UBS has nominated a number of new board of directors while announcing several departures.

Last Friday, the Zurich-headquartered bank put Agustín Carstens and Luca Maestri forward to be elected to its board at the 15 April annual general meeting. Markus Ronner is also being nominated for election to the board.

William C Dudley and Jeanette Wong have decided not to stand for re-election, UBS said. As previously announced, vice chairman Lukas Gähwiler is also stepping down. 

Carstens served as general manager of the Bank of International Settlements from 2017 to June 2025. Prior to that, he was governor of the Bank of Mexico from 2010 to 2017. During his time as governor, he was a member of the BIS board. Carstens also chaired the policy advisory committee of the International Monetary Fund from 2015 to 2017. 

Earlier in his career, Carstens served as Mexico's finance minister and as deputy managing director at the IMF. From 2000 to 2003, he was Mexico's deputy finance minister after holding the position of executive director at the IMF. 

Maestri is vice president of Apple’s corporate services, reporting to the CEO. Previously, he was Apple’s chief financial officer for more than a decade. Prior to that, Maestri served as executive vice president and CFO at Xerox Corporation. 

“The addition of these two highly experienced leaders will further strengthen the board’s expertise, bringing outstanding regulatory knowledge and extensive CFO skills,” UBS chairman Colm Kelleher said.

Gähwiler, who is retiring as vice chairman – a position he held since 2022 – will be wrapping up a 45-year banking career. Gähwiler was the final chairman of Credit Suisse, overseeing the integration of Credit Suisse into UBS.