ZURICH Jan 5 UBS has appointed former
Commerzbank executive Michael Bonacker as its new head
of group strategy, the bank said on Thursday, confirming an
earlier report in German business magazine Manager.
Bonacker joins Switzerland's biggest lender from German
private bank BHF-Bank, where he was head of asset management and
Before that he was head of group development and strategy at
Commerzbank, Germany's second largest bank, where he was
involved in shaping its direction following the financial
At UBS Bonacker will take charge of Group Corporate
Development & Performance, succeeding Dierk von Schuckmann who
will become Chief Financial Officer at Asset Management.
"Michael will join the Finance Executive Committee and will
be based in Zurich," an internal memo seen by Reuters said.
A UBS spokeswoman confirmed the memo to Reuters.
Bonacker follows Martin Blessing, who has taken over the
leadership of UBS's Swiss business, as another prominent
Commerzbank executive to join UBS.
(Reporting by Angelika Gruber, writing by John Revill, editing
by David Evans)