UBS's Karofsky to Be Sole Investment-Banking President; Euronext Nominates Novelli to Be Chairman
15 February 2021 - 5:55PM
Dow Jones News
By Olivia Bugault
UBS Group AG said Monday that Robert Karofsky will become the
sole president of the group's investment-banking business.
Mr. Karofsky and Piero Novelli have been co-presidents of the
Swiss group's investment bank since September 2018. UBS said Mr.
Novelli decided to retire from the banking sector to pursue
different opportunities.
Mr. Novelli will step down as co-president on March 31, UBS
said.
In a separate statement Monday, Euronext NV said Mr. Novelli has
been nominated by its supervisory board to become the next chairman
of the European stock-exchange operator.
"Mr. Novelli will step down from all executive positions before
becoming chairman," Euronext said, adding that "the appointment of
Mr. Novelli remains subject to the approval of the relevant
regulatory authorities and of Euronext shareholders."
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
February 15, 2021 01:40 ET (06:40 GMT)
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