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UBS: names Martin Blessing head of wealth management

(CercleFinance.com) - UBS on Thursday promoted the head of its business in Switzerland, Martin Blessing, to the role of president of its flourishing wealth management unit.

Blessing - who has spent 15 years on the management board at Commerzbank - will succeed Jürg Zeltner, who will step down from UBS' executive board at the end of this year and retire from the firm in 2018.

UBS said Martin Blessing has successfully run UBS' business in Switzerland since September 2016, achieving strong financial results and record new client growth in a negative rates environment.

He has also taken the digital strategy of the business to the "next level," the bank said.

Axel Lehmann, currently group chief operating officer, will succeed Martin Blessing as president of personal and corporate banking and president of UBS Switzerland.

HR specialist Sabine Keller-Busse will take on the role of group chief operating officer from Lehmann, UBS said.

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