UBS brings in Bank of England adviser to lead IR and sustainable finance committee
UBS has announced that Huw van Steenis, an adviser to Bank of England (BoE) governor Mark Carney, will join the investment bank as head of IR and chairman of a new sustainable finance committee.
The appointment, effective September 2, will make van Steenis one of the most senior finance figures to lead an IR department. During his time at the UK’s central bank, he ran a study into the future of the financial system and how the BoE should prepare itself for the next 10 years of change in the industry.
Prior to his role at the BoE, van Steenis was global head of strategy at Schroders and sat on the group management committee. That followed 14 years at Morgan Stanley where he was a star analyst and rose to lead the US firm’s banking research.
He is also currently a member of the World Economic Forum’s (WEF) Global Future Council on Financial and Monetary Systems, which studies topics such as financial regulation, cryptocurrencies and big data. Previously he served on other working groups at both the WEF and the European Central Bank.
Van Steenis’ role at UBS will see him chair a new committee set up to sharpen the bank’s focus on sustainable finance, according to a statement from UBS. ‘This steering group will work together across the firm with a focus on capturing further growth opportunities,’ says the bank.
‘It will also ensure that UBS continues to drive innovation and develop expertise and thought leadership on sustainable finance, which is increasing in relevance to corporate and private clients, investors and other stakeholders.’
In his new position, van Steenis will also lead UBS’ eight-person investor relations team. He will report to both group CEO Sergio Ermotti and group CFO Kirt Gardner, says UBS in the statement. Martin Osinga, who has run investor relations on an interim basis, will become deputy head of IR.