UBS AG announced the appointment of a COO for its Group Integration Office. The firm has appointed Simone Westerfeld to the position. She was previously promoted within UBS Switzerland in September and then she took over the retail banking business in the bank's Swiss division.

As of July 1, she is to become COO of the Group Integration Office, which is responsible for integrating Credit Suisse (CS) at group level. Westerfeld was briefly considered as a potential new head of Postfinance.