UBS names former finance minister as chairman

Kaspar Villiger is nominated to replace Peter Kurer who will step down after one year at the helm of the Swiss bank.

UBS's chairman Peter Kurer has decided not to stand for re-election after only one year in the job, saying essentially that he feels he has accomplished what he set out to do in terms of putting the Swiss bank in a position to ride out the challenges resulting from the global financial crisis.

If the board's nomination is accepted, he will be succeeded by Kaspar Villiger, a former Swiss finance minister, who during his time in public office was...

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