EQS-Adhoc: UBS AG: Changes to UBS’s Group Executive Board

Zurich, 24 October 2025 – As announced separately, Group Chief Compliance and Governance Officer Markus Ronner will be nominated as Vice Chairman of the UBS Group AG Board of Directors at the Annual General Meeting in April 2026.

In parallel, the following organizational changes will be made to the UBS Group Executive Board (GEB), effective 1 January 2026:

Michelle Bereaux, Group Integration Officer, will take on the role of Group Head Compliance and Operational Risk Control. Michelle has enabled remarkable progress in the integration of Credit Suisse, which UBS is on track to complete by the end of 2026. This includes, among other things, the successful completion of client migrations outside of Switzerland and the transfer of about two thirds of clients in Switzerland. In her new role, Michelle will focus on steering UBS through a demanding non-financial risk environment. She will relinquish her duties as Group Integration Officer once she assumes her new responsibilities.

Beatriz Martin, Head of Non-Core and Legacy, will become Group Chief Operating Officer. The role will include her current responsibilities as Lead for Sustainability and Impact and Head of Non-core and Legacy, as well as new responsibility for the finalization of the integration of Credit Suisse, Group Operations, and the Internal Consulting and Governance teams. In her new role, Beatriz will focus on the operational integration and alignment of UBS business divisions, focused on strategic key projects. She will also continue to act as President EMEA and UK Chief Executive.

Mike Dargan, in his role as Group Chief Technology Officer, will focus on evolving UBS’s technology platforms and ensuring they remain efficient, resilient and targeted at the organization’s evolving needs. In addition, Mike will direct even more of his efforts to continuing to advance UBS’s strong position in capturing the opportunities arising from rapid technological change, including in AI and digital assets.

Responsibility for Governmental and Regulatory Affairs will be transferred to Group CFO Todd Tuckner. Group Security will be integrated into the Group Human Resources and Corporate Services organization led by Stefan Seiler.

Commenting on the leadership changes, Group CEO Sergio P. Ermotti said: “Markus’s foundational work over the past 15 years helped shape the firm’s legal structure and governance. Since joining the Group Executive Board in 2018 in his current role as Group Chief Compliance and Governance Officer, Markus has established industry-leading compliance, financial crime prevention and operational risk control, as well as a robust regulatory management and resolvability framework for UBS. I thank Markus for his outstanding contributions and look forward to continuing to work with him in his new role.”

Sergio P. Ermotti added: “I also congratulate Michelle, Beatriz, Mike, Todd and Stefan on their new responsibilities. With these changes, UBS is ideally positioned to successfully complete the integration, focus on growth opportunities and continue to deliver in the best interest of all our key stakeholders.”

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