UBS Names Beatriz Martin Group Chief Operating Officer as Mike Dargan Steps Down

UBS has appointed Beatriz Martin as Group Chief Operating Officer effective 1 January 2026, the Swiss bank announced on 24 October 2025. Separately, Mike Dargan stepped down as Group Chief Operations and Technology Officer at the end of December 2025, UBS said on 15 December, to pursue an opportunity outside the bank. The appointment brings operational and technology oversight under a single executive.

Before the appointment, Martin held several senior positions within UBS concurrently, including Head of Non-Core and Legacy, overseeing the wind-down of assets absorbed from the Credit Suisse combination, and President of UBS EMEA.

TECHNOLOGY REPORTING LINE SHIFTS TO MARTIN

The Group Technology function, which previously sat within Dargan's combined operations and technology remit, will move to report directly into Martin in her capacity as COO.

Dargan is leaving to become CEO of neobank N26. Pending a permanent successor, Chris Gelvin, Chief Operating Officer of Group Technology, is acting as interim Head Group Technology.

MARTIN'S OTHER ROLES

Martin retains her roles as President UBS EMEA and UK Chief Executive, as well as Head of Non-core and Legacy and Lead for Sustainability and Impact. UBS announced the appointment in October 2025. The structural changes that accompany her appointment, including the realignment of Group Technology reporting lines, take effect alongside the leadership transition.