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UBS’s Carsten Kengeter to Leave as Sam Molinaro Assumes Duties

Former UBS AG’s Co-Chief Executive Officer Carsten Kengeter will be succeeded by Sam Molinaro. Photographer: Jerome Favre/Bloomberg
Former UBS AG’s Co-Chief Executive Officer Carsten Kengeter will be succeeded by Sam Molinaro. Photographer: Jerome Favre/Bloomberg

Feb. 12 (Bloomberg) -- UBS AG’s Carsten Kengeter, the former investment bank chief picked to wind down the non-core asset portfolio, is leaving the firm.

He will be succeeded by Sam Molinaro, the company wrote today in an internal memo to employees. Karina Byrne, a company spokeswoman in New York, confirmed the memo’s contents. The Financial Times reported the change earlier today.

Link to Company News:{UBSN VX <Equity> CN <GO>}

To contact the reporter on this story: Christine Harper in New York at charper@bloomberg.net

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net

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