Changes to UBS Board of Directors: President Asset Management Suni Harford to Retire, Aleksandar Ivanovic to Succeed

UBS has made significant changes to its board of directors. Suni Harford, President Asset Management and Group Executive Board (GEB) Lead for Sustainability and Impact at UBS, will retire, and Aleksandar Ivanovic will join UBS GEB as President of Asset Management. Additionally, Beatriz Martin Jimenez, who already holds responsibilities within the company, will take over the leadership of GEB's Sustainability and Impact sector. These changes will take effect on March 1, 2024.

Aleksandar Ivanovic started his career as an apprentice at UBS in 1992. Before switching to Credit Suisse as a managing director in 2008, he worked in all UBS business divisions and has a comprehensive understanding of the banking giant's business. In January 2017, Aleksandar returned to UBS as Head of Institutional Client Coverage for Asset Management. In 2018, as Head of Global Client Coverage and Head of the EMEA and Switzerland regions for Asset Management, he played a key role in developing and executing UBS's Asset Management strategy and leading the engagement with institutional and wholesale clients. He had also previously held role of Managing Director at Morgan Stanley for five years before his second tenure at UBS. He earns his Master of Science in Finance from the London Business School.

Beatriz Martin Jimenez, who has been with UBS since 2012, will be taking over from Suni Harford as the GEB lead for Sustainability & Impact. This new role will be added to her current responsibilities as the Head of Non-Core and Legacy and the President EMEA and UK Chief Executive. Throughout her 12-year tenure at UBS, Beatriz Martin Jimenez has held various important positions in business and finance, such as Investment Bank Chief of Staff and COO, Group Treasurer, and Group Head Transformation. She has also played a significant role in the firm's culture-building activities, demonstrating her strong involvement and commitment to their development.

Suni Harford joined UBS in 2017 as Head of Investments, Asset Management. In 2019, she was appointed the President Asset Management, leading the continuous development and growth of the group's Asset Management business. Suni also recently led the integration of the asset management businesses of UBS and Credit Suisse, creating one of the largest players in the world with USD 1.6 trillion in assets under management. In May 2021, while retaining her original position, Suni also served as the GEB Lead for Sustainability and Impact, committed to coordinating company activities and driving its transition to a low-carbon economy.

Sergio P. Ermotti, Chief Executive Officer of UBS AG, said: "I'm delighted to welcome Aleksandar Ivanovic to the UBS Group Executive Board. His extensive experience and broad network across the firm make him the ideal person to build on our strong foundation and progress our integration plans. At the same time, Beatriz Martin Jimenez's many years of experience at UBS, as well as at other leading financial services firms, will be invaluable in her role as GEB lead for sustainability and impact. I'd also like to thank Suni Harford for her leadership and commitment to UBS and for the significant contribution she has made to our success. I wish her all the best for the future."

In 2023, the merger of UBS and Credit Suisse attracted widespread attention in the industry. Fazzaco previously reviewed the entire situation in the article "Credit Suisse Turmoil Resurfaces: Uncovering the UBS and Credit Suisse Merger​".