ZURICH (Reuters) - UBS UBSG.VX said its chairman of asset management John Fraser will leave the Swiss bank to become Secretary of the Australian Treasury effective Jan. 15.
The Australian executive had stepped down from the day-to-day running of UBS' asset management arm last year, but remained with the bank in a chairman's role.
"I'd like to congratulate John and wish him every success as he takes on this new challenge," UBS Chief Executive Sergio Ermotti said in a statement.
"I'd also like to thank him for the lasting contribution he has made to UBS as a leader, an executive board member and a colleague over the last two decades."
Reporting By Katharina Bart; Editing by Maria Sheahan