UBS Appoints Blessing as Swiss Head, Replacing Gaehwiler
- Blessing stepped down as CEO of Germany's Commerzbank in April
- Gaehwiler has requested to step down, will assume new roles
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UBS Group AG hired Commerzbank AG’s former Chief Executive Officer Martin Blessing as head of personal and corporate banking, succeeding Lukas Gaehwiler.
Blessing, 52, who stepped down from Germany’s second-biggest lender last month, was also appointed head of UBS Switzerland and will join the group executive board on Sept. 1, the Zurich-based bank said in a statement on Wednesday. Gaehwiler, 51, has requested to step down from his current roles to assume new responsibilities within the bank.