UBS appoints new CFO and revamps management

ZURICH (Reuters) - UBS AG's (UBSN.VX) finance chief Marco Suter will step down to be replaced by John Cryan, the troubled Swiss bank said on Tuesday, as it revamped its management to combat the impact of the credit crisis.

UBS said Suter -- who stepped in after previous Chief Financial Officer Clive Standish left the group last year -- had expressed a desire to step down from the role.

"His (Suter's) contribution in the past year has been enormous and I am very grateful that he was able to step into the role when we needed him most," UBS Chairman Peter Kurer said in a statement. "We respect and support his desire to step back from the CFO function at this time."

Suter's replacement Cryan is currently head of the financial institutions group at UBS's investment bank and has advised the company's boards on the financial crisis. Cryan, a British citizen, will take over Sept 1.

UBS also said it would propose four new candidates -- Sally Bott, Rainer-Marc Frey, Bruno Gehrig and William Parrett -- for election to its board of directors at an emergency general meeting in October.

Bott is human resources director of BP (BP.L) and Gehrig is chairman of insurer Swiss Life Holding AG (SLHN.VX).

Frey is founder and chairman of investment manager Horizon21, while Parrett has spent his whole career at Deloitte Touche Tohmatsu, as chief executive officer until 2007.

(Reporting by Sam Cage; Editing by David Holmes)