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UBS stalwarts Körner, Blessing to quit

Ulrich Körner and Martin Blessing are leaving their UBS Group AG posts Oct. 1.

Körner will step down as president of the group's asset management arm and of UBS Europe, Middle East and Africa. He will remain senior adviser to Group CEO Sergio Ermotti until at least March 31, 2020. From 2009 to 2013, Körner had also served as the group's COO.

Suni Harford, currently head of investments at UBS Asset Management, will succeed Körner as president of the asset management arm. Harford will also become a group executive committee member. Meanwhile, Group COO Sabine Keller-Busse will take on additional responsibilities at UBS EMEA.

Martin Blessing will resign as co-president of the group's flagship global wealth management arm, a role he has held since February 2018, when UBS unified the business. He will remain with UBS until 2019-end for a smooth handover.

UBS named Iqbal Khan as Blessing's successor, pairing him with Tom Naratil. In early July, Khan resigned as an executive board member and CEO of Credit Suisse Group AG's international wealth management division. He was previously said to be among the possible candidates to become Julius Bär Gruppe AG's new CEO.