In her new role, Bereaux's remit is to steer UBS through what it described as a “demanding non-financial risk environment.” She will relinquish her duties as group integration officer once she assumes her new responsibilities.

Beatriz Martin, head of non-core and legacy, will become group chief operating officer. The role will combine her current responsibilities – including leading sustainability and impact, and overseeing non-core and legacy – with new duties covering completion of the Credit Suisse integration, group operations, and the internal consulting and governance teams. Martin will also continue to serve as EMEA president and UK chief executive.

Mike Dargan, chief technology officer, will concentrate on evolving UBS’s technology platforms. He will also focus on how the bank captures opportunities arising from technological change, including in artificial intelligence and digital assets.

Responsibility for governmental and regulatory affairs will be transferred to group chief financial officer Todd Tuckner. Group security will be incorporated into the group human resources and corporate services division, led by Stefan Seiler.