Korner takes his corner at UBS

Ulrich Korner, a Credit Suisse stalwart, joins colleague Grubel at UBS as group COO with a mandate to streamline the Swiss bank.

UBS has hired former Credit Suisse bigwig Ulrich Korner as its group chief operating officer and chief executive officer of the corporate centre. Korner will have a broad remit which seems focused on cost-cutting.

UBS also announced yesterday it will integrate its group-wide infrastructure and service functions into a corporate centre and will centralise the management of its control functions namely finance, risk, legal and compliance.

Korner has been appointed group COO and a member of the group executive board...

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