UBS announced on 27 February 2026 that its Board of Directors is nominating Agustín Carstens and Luca Maestri for election at the bank's annual general meeting scheduled for 15 April 2026. The Swiss banking group also confirmed that Markus Ronner has been nominated for board election at the same meeting, adding three prospective new members to a board that is simultaneously seeing two departures.
William C. Dudley and Jeanette Wong will not stand for re-election at the AGM, creating the vacancies that the three nominations are intended to fill. The changes represent one of the more substantive shifts in the composition of the UBS board in recent years, bringing in candidates with high-profile international credentials at a time when the bank continues to integrate Credit Suisse following its emergency acquisition.
CARSTENS AND MAESTRI BRING INTERNATIONAL STANDING
Agustín Carstens served as General Manager of the Bank for International Settlements, the central bank to central banks headquartered in Basel, before his nomination. Prior to that role he was Governor of Banco de México and had earlier served in senior positions at the International Monetary Fund. His background in global monetary policy and financial stability makes him a substantive addition to the governance structure of a bank whose operations span the world's major financial centres.
Luca Maestri brings a different profile, having spent years as a senior finance executive in the technology sector. His experience in capital allocation, investor relations and operating at the scale of a global corporation gives him a perspective that complements the more traditional banking and regulatory backgrounds of other board members. Together, the two nominations reflect a board refreshment strategy that draws on international policy experience as well as corporate financial leadership.
Markus Ronner's nomination adds a further dimension to the board's composition. The precise background and experience Ronner brings to the role were outlined in the bank's nomination announcement, consistent with UBS's standard practice of providing shareholders with the relevant credentials of each nominee ahead of the AGM vote.
BOARD CHANGES AMID ONGOING CREDIT SUISSE INTEGRATION
The board nominations arrive as UBS continues the complex work of absorbing Credit Suisse, the acquisition that transformed UBS from a large global bank into one of the few financial institutions of genuine systemic weight in Europe. Integrating a firm of that size while managing the inherited risks of Credit Suisse's loan book and investment banking portfolio has demanded sustained attention from UBS's executive leadership and its board alike.
William Dudley, the outgoing board member who previously served as President of the Federal Reserve Bank of New York, has been a prominent voice on financial stability and regulatory matters during his tenure. Jeanette Wong brought extensive experience in Asian financial markets. Their departures mark the end of a period in which both played a role in overseeing UBS's response to the Credit Suisse transaction.
Shareholders will formally vote on all three nominations at the 15 April AGM. Assuming the expected approval, the new board members will take up their positions and join their colleagues in overseeing one of the world's largest wealth managers through the next phase of its strategic development.