Changes to the UBS Group Executive Board
December 01 2021 - 12:45AM
Business Wire
Sarah Youngwood to succeed Kirt Gardner as Group Chief
Financial Officer
Regulatory News:
Ad hoc announcement pursuant to
Article 53 of the SIX Exchange Regulation Listing Rules
Sarah Youngwood will join UBS´s Group (NYSE:UBS) (SWX:UBSN)
Executive Board at the beginning of March and take over as Group
Chief Financial Officer in May, following current CFO Kirt
Gardner’s decision to step down from his role. Kirt will support
Sarah during her two-month onboarding period before retiring from
UBS to pursue other opportunities in May.
Sarah Youngwood has been Chief Financial Officer of JPMorgan
Chase’s Consumer & Community Banking line of business since
2016. Since 2020, her role has also included leading finance for
the firm’s global technology unit, as well as the diversity &
inclusion team. Between 2012 and 2016, she served as Head of
Investor Relations for JPMorgan Chase and, prior to that, spent 14
years in various roles in the Financial Institutions Group within
JPM’s Investment Bank in Paris, London and New York. She holds a
combined undergraduate and master's degree in Finance and Business
from ESCP Europe Business School and, as part of that program,
spent six months at the Stanford Graduate School of Business.
Kirt Gardner joined UBS in 2013 and was named Group Chief
Financial Officer and a member of the UBS Group Executive Board in
January 2016. Between 2013 and 2015, he served as CFO for UBS
Wealth Management. As Group CFO, Kirt helped to navigate UBS
through many fundamental changes in the industry and also drove
substantial efficiency both in the finance function and firmwide to
support the growing strength of the bank.
Group Chief Executive Officer Ralph Hamers: “I want to
personally thank Kirt for his leadership, commitment and important
contributions to UBS over the past nine years. He was instrumental
in managing and maintaining the firm’s strong financial position
and safeguarding client and investor trust through different market
environments – and for being a role model for our culture. I wish
him all the best in his future endeavors. I’m also excited to
welcome Sarah Youngwood to the UBS team in her role as Group CFO
and Group Executive Board member. With her strong track record,
in-depth finance expertise, and experience across various banking
areas, Sarah is ideally suited to lead our finance function into
the future.”
Notice to investors This document and the information
contained herein are provided solely for information purposes, and
are not to be construed as a solicitation of an offer to buy or
sell any securities or other financial instruments in Switzerland,
the United States or any other jurisdiction. No investment decision
relating to securities of or relating to UBS Group AG, UBS AG or
their affiliates should be made on the basis of this document.
Refer to UBS’s third quarter 2021 report and its Annual Report on
Form 20-F for the year ended 31 December 2020 for additional
information. These reports are available at
www.ubs.com/investors.
Cautionary statement regarding forward-looking statements This
document contains statements that constitute forward-looking
statements. While these statements represent UBS’s judgments and
expectations concerning the matters described, a number of risks,
uncertainties and other important factors could cause actual
developments and results to differ materially from UBS’s
expectations. Additional information about those factors is set
forth in documents furnished and filings made by UBS with the US
Securities and Exchange Commission, including the second and third
quarter 2021 reports and the Annual Report on Form 20-F for the
year ended 31 December 2020. UBS undertakes no obligation to update
the information contained herein.
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