UBS Group AG (NYSE: UBS) reshapes tech leadership on executive board

Rhea-AI Filing Summary

UBS Group AG and UBS AG announced changes to their Group Executive Board focused on technology leadership and reporting lines. Group Chief Operations and Technology Officer Mike Dargan will step down at the end of December to pursue an opportunity outside UBS. From 1 January 2026, the Group Technology function will report to Beatriz Martin as she takes on the role of Group Chief Operating Officer. Pending the appointment of a permanent successor, Chris Gelvin will serve as interim Head Group Technology alongside his role as Chief Operating Officer, Group Technology.

The companies state that adding Group Technology to the Group COO portfolio is intended to support smooth end-to-end operations, prioritize technology and artificial intelligence initiatives, and help complete the remaining technology integration. Group CEO Sergio P. Ermotti thanked Dargan for his contributions, highlighted technology’s role in business growth and resilience, and congratulated Martin on her expanded responsibilities. The changes to the Group Executive Board are subject to regulatory approval.

Insights

Corporate governance analyst

UBS is reorganizing top-level technology oversight as its tech chief departs.

UBS Group AG is adjusting its senior leadership after Mike Dargan decided to step down as Group Chief Operations and Technology Officer at the end of December to pursue an external opportunity. The Group Technology function will move under incoming Group Chief Operating Officer Beatriz Martin from 1 January 2026, consolidating operations and technology oversight in one portfolio.

The companies state that this structure aims to support smooth end-to-end operations, prioritize technology and artificial intelligence initiatives, and help complete the remaining technology integration. In the interim, Chris Gelvin will act as Head Group Technology while continuing as Chief Operating Officer, Group Technology, which maintains continuity in day-to-day management.

Group CEO Sergio P. Ermotti emphasized Dargan’s role in positioning technology as a driver of growth and resilience and acknowledged Martin’s expanded responsibilities. The changes to the Group Executive Board remain subject to regulatory approval, and future company disclosures may provide more detail on the permanent technology leadership appointment.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

Date: December 15, 2025

UBS Group AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

(Address of principal executive office)

Commission File Number: 1-36764

UBS AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

Aeschenvorstadt 1, 4051 Basel, Switzerland 

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrants file or will file annual reports under cover of Form

20-F or Form 40-

F.

Form 20-F 

☒

 Form 40-F 

☐

This Form 6-K consists of the news releases which appear immediately following this page.

Investor Relations

Tel. +41-44-234 41 00

Media Relations

Tel. +41-44-234 85 00

UBS Group AG, News Release, 15 December 2025 Page 1

15 December 2025

Ad hoc announcement pursuant to article 53 of the SIX Exchange Regulation Listing Rules

News release

Changes to UBS’s Group Executive Board

●

Mike Dargan, Group Chief Operations and Technology Officer, will step down from his role 

●

Group Technology function to report into Group Chief Operating Officer Beatriz Martin

Zurich, 15 December 2025 – As Mike Dargan has decided to step down as Group Chief Operations and

Technology Officer at the end of December to pursue an opportunity outside of UBS, the Group Technology

function will report into Beatriz Martin as she takes up her new role as Group Chief Operating Officer on 1

January 2026. Pending the appointment of a permanent successor, Chris Gelvin will act as interim Head

Group Technology, in addition to his current role of Chief Operating Officer, Group Technology. 

Adding Group Technology to the Group COO portfolio will support smooth end-to-end operations, prioritize

initiatives related to technology and artificial intelligence, and ensure a smooth completion of the remaining

technology integration process.

1

Commenting on the appointments, Group CEO Sergio P. Ermotti said: “Mike has been instrumental in

positioning our technology as a driver of business growth and resilience and progressing the firm’s strategic

shift towards AI and digitization. I would like to thank Mike for his significant contributions to UBS and wish

him all the best for this future. I also congratulate Bea on her expanded responsibilities and thank her for her

ongoing leadership.” 

UBS Group AG and UBS AG

Investor contact

Switzerland: +41-44-234 41 00

Media contact

Switzerland: +41-44-234 85 00

UK: +44-207-567 47 14

Americas: +1-212-882 58 58

APAC: +852-297-1 82 00

www.ubs.com/media

1

 Changes to the Group Executive Board are subject to regulatory approval.

This Form 6-K is hereby incorporated by reference into (1) each of the registration statements on Form F-3

(Registration Number 333-283672), and on Form S-8 (Registration Numbers 333-200634; 333-200635; 333-

200641; 333-200665; 333-215254; 333-215255; 333-228653; 333-230312; 333-249143 and 333-272975), and into

each prospectus outstanding under any of the foregoing registration statements, (2) any outstanding offering

circular or similar document issued or authorized by UBS AG that incorporates by reference any Forms 6-K of

UBS AG that are incorporated into its registration statements filed with the SEC, and (3) the base prospectus of

Corporate Asset Backed Corporation (“CABCO”) dated June 23, 2004 (Registration Number 333-111572), the

Form 8-K of CABCO filed and dated June 23, 2004 (SEC File Number 001-13444), and the Prospectus

Supplements relating to the CABCO Series 2004-101 Trust dated May 10, 2004 and May 17, 2004 (Registration

Number 033-91744 and 033-91744-05).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused

this report to be signed on their behalf by the undersigned, thereunto duly authorized.

UBS Group AG

By: _/s/ David Kelly______________

Name: David Kelly

Title: Managing Director

By: _/s/ Ella Copetti-Campi_________

Name: Ella Copetti-Campi

Title: Executive Director

UBS AG

By: _/s/ David Kelly______________

Name: David Kelly 

Title: Managing Director

By: _/s/ Ella Copetti-Campi________

Name: Ella Copetti-Campi

Title: Executive Director

Date: December 15, 2025

FAQ

What executive change did UBS (UBS) announce in this filing?

UBS announced that Mike Dargan, its Group Chief Operations and Technology Officer, will step down from his role at the end of December to pursue an opportunity outside UBS.

Who will oversee Group Technology at UBS (UBS) after Mike Dargan steps down?

From 1 January 2026, the Group Technology function will report to Beatriz Martin as she assumes the role of Group Chief Operating Officer. Chris Gelvin will act as interim Head Group Technology in addition to his role as Chief Operating Officer, Group Technology.

Why is UBS (UBS) moving Group Technology under the Group COO?

UBS states that adding Group Technology to the Group COO portfolio is intended to support smooth end-to-end operations, prioritize initiatives related to technology and artificial intelligence, and help complete the remaining technology integration.

What did UBS CEO Sergio P. Ermotti say about the leadership changes?

Sergio P. Ermotti, Group CEO, said Mike Dargan has been instrumental in positioning UBS’s technology as a driver of business growth and resilience and advancing its strategic shift toward AI and digitization. He thanked Dargan for his contributions and congratulated Beatriz Martin on her expanded responsibilities.

Are the UBS (UBS) Group Executive Board changes final?

No. The filing notes that the changes to the Group Executive Board are subject to regulatory approval, meaning they must be cleared by relevant authorities before becoming fully effective.

Does this UBS (UBS) filing affect any existing securities registrations?

Yes. The Form 6-K states that it is incorporated by reference into various existing registration statements on Form F-3 and Form S-8, as well as certain related prospectuses and offering documents.