Swiss banking giant UBS said that it will nominate Jes Staley for election to its board on 7 May 2015.

Staley is also expected to become a member of the risk committee if elected by shareholders to its board.

Staley has been a managing partner at BlueMountain Capital Management since February 2013.

Before this, he occupied various senior role at JPMorgan Chase & Co., including CEO investment bank, CEO asset management and head of private banking. He began his banking career at Morgan Guaranty Trust Co. of New York in 1979.

Axel Weber, chairman of UBS, said: "His professional expertise gained from three decades of working in several top leadership functions in global banking make him ideally suited to strengthen the Board of UBS. Subject to his election, we are convinced Jes will bring invaluable skills, experience and insights to the firm."

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