Safra Sarasin Group has selected ex-UBS veteran Jürg Haller as the new chairman of Bank J. Safra Sarasin.

Haller will replace Ilan Hayim and also join the board of the Swiss holding company.

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Hayim, who has been a part of the group since 2013, will resign from both boards and ensure a smooth transition before leaving the group.

At the upcoming general meeting of shareholders, the board of directors of Bank J. Safra Sarasin will propose the election of Haller as a new member of the board.

Haller has held various senior management positions at UBS since 1984. He was executive vice chairman of global wealth management until July this year.

Haller started his career in 1973 at Raiffeisenbank Basen-Wettingen. He also worked for JP Morgan in Zurich and New York for three years.

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Safra Holdings International chairman and J. Safra Sarasin Group vice chairman Jacob J. Safra said: “On behalf of the board of directors, I would like to thank Ilan Hayim for his invaluable collaboration and services during the last six years….I would like to welcome Jürg Haller to the Boards of J. Safra Sarasin Holding and Bank J. Safra Sarasin.

“He has an excellent track record with decades of experience in all areas of banking, and I am confident he will help us continue our success story going forward.”