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Head of German bourse nominated to UBS board

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Head of German bourse nominated to UBS board
Photo: Deutsche Börse
10:52 CET+01:00
Swiss banking giant UBS is nominating German stock market chief Reto Francioni to its board after the former head of Lufthansa, Wolfgang Mayrhuber, opted not to stand for reelection.

"I am very pleased to announce the nomination of Reto Francioni for election to the board," UBS chairman Axel Weber said in a statement issued on Tuesday.

Francioni is a 57-year-old Swiss citizen who previously led the Swiss stock exchange.

He worked as a personal assistant at UBS in Zurich early in his career before earning a PhD from the University of Zurich.

He also held positions with Credit Suisse in the late 1980s.
   
A vote on the nomination of the Deutsche Börse head  is set to take place at the next UBS general meeting of shareholders on May 2nd.

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