ubs/axel weber

New UBS chairman puts spotlight on Deutsche succession plans

Axel Weber accepts the chairman's job at UBS, opening the door for Anshu Jain to become head honcho at Deutsche.
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New UBS chairman Axel Weber delivering his farewell speech at the Bundesbank in May (AFP)
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<div style="text-align: left;"> New UBS chairman Axel Weber delivering his farewell speech at the Bundesbank in May (AFP) </div>

On Friday, UBS announced that Axel Weber would join its board as vice chairman in 2012, and take over as chairman of the Swiss bank in 2013. The appointment has left many asking what this means for Deutsche Bank’s plans to name a successor to Josef Ackermann.

Weber was most recently president of the German central bank, where he worked for seven years. He is an academic by training and has worked as a professor of economic theory and international economics at various universities in Germany.

Weber’s credentials for the top job at UBS are impeccable. As president of the Bundesbank, he served concurrently as a member...

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