Former Morgan Stanley president Colm Kelleher has been announced as the new chairman of Union Bank of Switzerland (UBS), a Swiss multinational investment bank and financial services firm.
Kelleher's appointment was announced on Saturday morning, and he is set to succeed Axel Weber, who will step down from his position next year after nearly ten years of overseeing the Swiss institution.
The estimated net worth of the new UBS chairman, Colm Kelleher, is $191 million. Kelleher holds thousands of shares in several renowned firms and trades on the stock exchange every day.
He is a wise man with extensive financial expertise, so it is clear that he knows how to manage money.
As per the financial data listed on Wallmine, Thomas Kelleher holds approximately 40,000 units of Norfolk Southern stock and has sold NSC shares worth over millions in recent years.
Despite holding leadership positions in a handful of reputable organizations, Colm Kelleher is not available on Wikipedia.
However, Mr. Kelleher entered Morgan Stanley in 1989 and has held numerous senior roles in the Americas and Europe.
He was the company's Senior Vice President and CFO, plus the Co-Head of Strategy And planning, since October 2007. He previously held the posts of Director of Global Capital Markets, Co-Head of Fixed Income, and Head of Fixed Income Sales.
During the financial crisis of 2007-09, Mr. Kelleher was Morgan Stanley's chief financial officer.
At the time, Colm did a miraculous job of reducing the bank's balance sheet from $1 trillion in 2007 to $659 billion in 2008.
Colm Kelleher is presently 64 years of age. Mr. Kelleher completed his financial studies at Trinity College in Dublin.
He went on to the University of Oxford to further sharpen his knowledge. Before joining Morgan Stanley, Colm spent a few years at Arthur Anderson in London, where he earned his Chartered Accountant designation.
Colm Kelleher has an extended family, which consists of his wife and his three kids. Mr. Kelleher is a seasoned financial presence, yet he is rather reserved when it comes to his personal life.
Colm has not revealed any information about his parents, partner, or kids. However, it is clear that he comes from Irish roots.