Peter Wuffli

Peter Wuffli
Wuffli in 2005
Born (1957-10-26) October 26, 1957 (age 67)
Zürich, Switzerland
Alma materUniversity of St. Gallen
OccupationBanker

Peter A. Wuffli (born 26 October 1957) is a Swiss businessman who was appointed president and chief executive officer of UBS AG in December 2001 after having been chief executive of UBS Asset Management and the company's chief financial officer.[1]

Education and personal life

He is a Swiss citizen and graduated from the University of St. Gallen in 1981 and earned a doctorate in 1984.[2] He also attended the Advanced Management Program at Wharton School of the University of Pennsylvania.[2] He and his wife Susanna have three children.

His father Heinz R. Wuffli was general director of Credit Suisse from 1967 to 1977, when he resigned as a consequence of the Chiasso affair.[3]

Career

In 1984, he joined McKinsey & Co as management consultant and in 1990 became a partner of McKinsey Switzerland's senior management.[2]

From 1994 to 1998, he was the chief financial officer at SBC and a member of SBC's group executive board in Basel.[2] After the 1998 merger of SBC and UBS AG, Wufflii was appointed president of the Group Executive Board in 2001 and became CEO in 2003.[2]

In May 2006 Wuffli heralded UBS’s acquisition of Brazilian Banco Pactual as an opening for UBS into one of the world’s fastest growing financial markets and an excellent basis for growth in Brazil and throughout Latin America.[4]

Wuffli left as a CEO UBS AG on 6 July 2007 and renounced about $10 million in payments.[5]

On July 7, 2007 UBS declined to comment on Wuffli’s leaving, only confirming that his departure, a decision which was taken in a regular board meeting in Valencia, Spain,[6] was based on the review of the position. Analysts and investors suspected the drop in profits, hedge fund losses and the underperformance of its shares to be the reason,[7][8] and as a possible indication of the bank’s shifting core business to wealth and investment management.[9]

In February 2009 it became known that multi-billion dollar write-downs had sparked the sudden 2007 departure of Peter Wuffli as CEO.[10]

In November 2018 it was reported that Wuffli had joined the new financial services operator Sygnum as advisor.[11]

In July 2019, Wuffli was nominated to Sygnum's board of directors.[12]

Other engagements

In December 2006, Wuffli and his wife founded The Elea Foundation for Ethics in Globalization.[13]

He is chairman of the board of Partners Group Holding, a board member of the Zurich Opera House,[14] member of the executive committee and chairman of the board of IMD International Institute for Management Development in Lausanne.[15]

He was president of the Friends of the FDP (Freunde der FDP) association, founded 2004 to support the Swiss FDP political party.[16]

Publications

  • Liberale Ethik. Orientierungsversuch im Zeitalter der Globalisierung. Stämpfli Verlag, Bern 2010, ISBN 978-3-7272-1308-3[17]
  • Inclusive Leadership, A Framework for the Global Era. Springer 2016, ISBN 978-3-319-23560-8

References

  1. ^ "Peter Wuffli on NNDB". NNDB. Retrieved 2008-10-20.
  2. ^ a b c d e "An Understated Integrator For UBS AG: Peter A. Wuffli, AMP '99". Wharton Magazine. 2007-07-01. Retrieved 2020-09-24.
  3. ^ "History of UBS More than 150 years of interesting stories". UBS.com. UBS. Retrieved 14 August 2013.
  4. ^ James Langton (9 May 2006). "UBS to buy Banco Pactual". investmentexecutive.com. Retrieved 6 June 2023.
  5. ^ "Former UBS Chief to Forego $10 Million in Exit Pay". DealBook. 10 November 2008. Retrieved 2020-09-24.
  6. ^ Emma Thomasson, Catherine Bosley (24 September 2011). "UBS CEO quits over rogue trader scandal". NBC News. Archived from the original on June 6, 2023. Retrieved 6 June 2023.
  7. ^ Julia Werdigier (7 July 2007). "UBS Not Willing to Talk About Departure of Chief". The New York Times. Retrieved 6 June 2023.
  8. ^ "UBS Draws Veil over Reasons for CEO Wuffli's Departure". CNBC. 5 July 2007. Retrieved 6 June 2023.
  9. ^ "CHRONOLOGY: Key dates in UBS past since Arnold left as CEO". Reuters. Retrieved 6 June 2023.
  10. ^ "UBS Anoints 'Saint Ossi'". Forbes. 28 February 2009. Retrieved 14 June 2023.
  11. ^ Matthew Allen (8 November 2018). "Cryptoasset start-up backed by Swiss banking heavyweights". SWI swissinfo. Retrieved 14 June 2023.
  12. ^ "Peter Wuffli im Verwaltungsrat eines Fintech-Startups". handelszeitung.ch. 12 July 2019. Retrieved 13 July 2023.
  13. ^ "Elea Foundation: Entering a New Phase". Elea Foundation. Retrieved 2008-10-20.
  14. ^ "Board Of Directors Zurich Opera House". Zurich Opera House. Retrieved 2008-10-20.
  15. ^ Matt Turner (7 May 2012). "The DRCM diaspora: Where are they now?". fnlondon.com. Retrieved 13 July 2023.
  16. ^ "Association "Friends of the FDP" founded - well-known business representatives manifest their solidarity with the FDP". 22 September 2004. Archived from the original on 27 September 2007.
  17. ^ ""Wir galten als Weltmeister im Risikomanagement"". tagesanzeiger.ch/. Retrieved 2017-02-02.
Business positions
Preceded by Group CEO of UBS AG
2001 - 2007 		Succeeded by