UBS Group 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 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, he said.
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A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
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