Weber named UBS chair


Axel Weber, the former president of the Bundesbank, was on Friday nominated as the next chair of Swiss bank UBS.

Weber, who left his post as head of the Bundesbank in April and is now a visiting professor at the University of Chicago Booth School of Business, was nominated for election to the UBS board of directors in 2012 and is set to be appointed chair in 2013, the Swiss bank said.

UBS said its board of directors would vote on Weber's appointment at its annual general meeting on May 3, 2012.

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