According to a statement from the major bank released on Friday, Gähwiler decided to retire after a 45-year career in the financial industry and will not stand for re-election at the 2026 Annual General Meeting. His successor as Vice Chairman of the Board will be Markus Ronner, who currently serves as Group Chief Compliance and Governance Officer.

Ronner, a Swiss citizen, has spent his entire professional career with UBS since joining the bank in 1981. Over the past 25 years, he has held various global leadership roles across business, control, and audit functions. He has been a member of the Group Executive Board since 2018.

Gähwiler held numerous leadership positions at UBS, serving from 2010 to 2016 as a member of the Group Executive Board of UBS Group AG and as President of UBS Switzerland. He then became Chairman of the Board of Directors of UBS Switzerland AG.

«With great appreciation and deep regret, I have taken note of Lukas Gähwiler’s decision to step down,» said Chairman Colm Kelleher.

Several Changes in the Group Executive Board

Ronner’s planned move to the Board of Directors triggers a series of management changes within the Group Executive Board. Michelle Bereaux will assume the role of Group Head Compliance and Operational Risk Control. She previously served as Chief Integration Officer at the Group level.

Beatriz Martin will become Group Chief Operating Officer, in addition to her existing responsibilities as GEB Lead Sustainability and Impact as well as Head of Non-Core and Legacy, while continuing to serve as President EMEA. She will be responsible for finalizing the integration of Credit Suisse, Group Operations, and the Internal Consulting and Governance teams, according to the statement.

Group Chief Technology Officer Mike Dargan will focus on leveraging opportunities for innovation and technological transformation. The functions Governmental and Regulatory Affairs and Group Security — both currently part of Group Compliance, Regulatory and Governance — will be transferred to Group CFO Todd Tuckner and Group Head of HR and Corporate Services Stefan Seiler, respectively.

«With these changes, UBS is well positioned to complete the integration successfully, focus on growth opportunities, and continue to act in the best interests of all our key stakeholders,» commented CEO Sergio Ermotti on the reorganization of responsibilities within the Group Executive Board.