Weber Says UBS Should Consider a Chairwoman After He Leaves

News May 06, 2021 at 09:53 AM

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UBS Group AG Chairman Axel Weber suggested the bank should consider appointing a chairwoman after he exits next year as the bank seeks to address a lack of gender diversity on its board.

"My own transition is a good chance for the bank to onboard a chairwoman, and I'm very committed to looking at that," Weber said at the DIW Women in Finance conference Thursday.

UBS is planning to appoint the successor to Weber, 64, at the annual general meeting next year.

Weber, who is himself involved in the search process along with Chief Executive Officer Ralph Hamers, plans to step down after 10 years.

The search for his successor started early this year and is being led by senior independent director Jeremy Anderson.

When Weber started at UBS, the bank planned to have women accounting for at least half of the board of directors, he said at the event.

So far, the lender has only managed one third, Weber said.

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(Photo: Bloomberg image of a UBS sign in Zurich)