Veteran German banker to become head of UBS wealth management

Zurich

VETERAN German banker Martin Blessing will replace Juerg Zeltner as the head of UBS's market-leading wealth management business at the turn of the year, Switzerland's biggest bank said on Thursday.

Mr Blessing, former head of Germany's Commerzbank, has run UBS's Swiss business since September 2016. Mr Zeltner, who has worked for UBS for more than three decades, will retire in 2018, the bank said in a statement.