Multinational investment bank UBS announced the promotion of Global Wealth Management (GWM) Chief Risk Officer Damian Vogel to group chief risk officer, effective May 2023.

Vogel will join the group executive board and succeed Christian Bluhm as group chief risk officer. Bluhm and Vogel will work closely together over the coming months to ensure a smooth transition.

Since joining UBS in 2010, Vogel has held various risk-related leadership roles across GWM and personal and corporate banking, as well as for the company’s Switzerland branch.

Before his time at UBS, Vogel held varying roles in the risk department at Credit Suisse, according to his LinkedIn profile.

Bluhm departs having served as chief risk officer since 2016. Under his leadership, the firm’s risk function embraced advanced analytics; digitalization; and innovative technology, including artificial intelligence, to help manage risks effectively and efficiently and protect the firm’s capital and reputation.