Does UBS have a problem with Russia? The arrests were said to have taken place last week.
These are just rumors for now, and the bank is just shrugging it off. But her behavior raises questions.
A spokesperson for the multinational Bahnhofstrasse said two months ago that the only thing it was doing without it was a new business with Russian private banking clients.
This detour followed a few days ago. UBS will completely withdraw from business with rich Russians.
The media wrote that most of the existing customers will have to leave the bank.
On Team Russia, there are two characters to talk about: ex-UPS Topshot’s wife, former CS boss Axel Lehmann and a senior supervisor at CS Russia.
According to their LinkedIn, both advisors are still on the bank’s payroll.
CS woman brought many oligarchs to the bank; This infected the wealthy, intrepid Russians with loans for ships and planes.
In the end, compliance violations broke the neck of the CS and ended up in the UBS port.
The second consultant, Axel Lehmann’s wife, has been working at UBS for 7 years. According to her public profile, she is assigned to the unit of UBS Switzerland.
Husband Axel Lehmann has been the top boss there since 2018. As CEO of UBS Switzerland, Lehmann had the ultimate say in the big bank’s division.
Until he handed the wheel over to Sabine Keeler-Boss at the end of 2020, he jumped overboard and shortly thereafter appeared on the board of Credit Suisse.
Following Antonio Horta Osorio’s adventures with Covid, Lehmann becomes CS President in early 2022.
Now he is gone.
UBS did not want to comment on questions about conflicts of interest during Lehmann’s tenure as Swiss president due to his wife in the Russia office.
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