Following the announcement by Barclays Plc that Jes Staley will assume the role of CEO, UBS announced today that it has accepted his resignation from all of his functions at UBS with immediate effect to avoid conflicts of interest. He will not stand for re-election as a member of the UBS Board of Directors at UBS’s Annual General Meeting on 10 May 2016.

Jes Staley was elected to the UBS Board of Directors at UBS’s May 2015 Annual General Meeting. He was a member of the Human Resources and Compensation Committee and the Risk Committee.

UBS will announce at a later stage whether it will nominate additional candidates for election to the Board of Directors at the next UBS Annual General Meeting.