Colm Kelleher, Chairman of UBS & Former President of Morgan Stanley, Discusses Culture, Leadership, Surviving the Great Financial Crisis and UBS Today
Colm shares the inside story of UBS's emergency takeover of Credit Suisse, how European finance firms can compete better on the global stage, and managing stress as a leader at Switzerland's largest banking institution.
In an interview we had especially looked forward to, and with the Credit Suisse acquisition behind us, the MMP went to Zurich to talk to Colm Kelleher.
Described as one of the most influential and capable banking executives of the last several decades, he has also been dubbed by the FT as Europe’s most powerful banker. UBS now manages a total of $5.7 trillion in assets, employing 112,000 people.
After discussing the early forces that shaped him, he explains why he realised US Banks were better placed to outgun their UK rivals, why he joined Morgan Stanley, and the journey to CFO and President. He discusses the brutal intensity of fighting to keep Morgan Stanley alive from following Lehman, and the emotional scars it left.
Colm describes the attraction of UBS, the preparation that made the Credit Suisse deal work in such an orderly manner as well as the business, the brand, and its position today.
He explains what culture means to him, Europe’s position in financial services, disintermediation, and the likely shape of banking going forward and why banks shouldn’t seek to be entrepreneurial.
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