Company Briefs : UBS

UBS

Swiss bank UBS has announced that its board of directors will nominate former DBS chief financial officer Jeanette Wong and former New York Federal Reserve chief William Dudley for election to the board.

The election to the board of UBS Group is set to take place at an annual general meeting for shareholders on May 2.

It is understood that a nomination generally results in a seat on the board. Past nominees who have made it to the board include former senior adviser in private equity Julie Richardson in 2017, and Mr Joseph Yam, previously the chief executive of the Hong Kong Monetary Authority, in 2010.

Ms Wong is the group executive responsible for the institutional banking business at DBS Group, until next month. She served as the group's CFO between 2003 and 2008.

She has spent more than 30 years working in different senior management roles within the financial industry in Singapore.

She started her career in 1982 with positions at Banque Paribas and Citibank, before going on to JPMorgan, where she spent 16 years in its Asia and emerging markets business.

Mr Dudley was chief executive officer of the Federal Reserve Bank of New York between 2009 and last year. In that capacity, he also served as the vice-chairman and a permanent member of the Federal Open Market Committee.

UBS also announced that two members on the board of UBS Group, Ms Ann Godbehere and Mr Michel Demare, are not standing for re-election. Instead, they will be retiring as they have served since 2009 and are reaching their 10-year term limit.


Citibank

Citibank customers can earn rewards and miles when they charge rent and education payments on their credit cards with a mobile service called PayAll launched yesterday.

They can use their credit cards for payments that are usually made through bank or Giro transfers for a small fee, a bank statement said.

The fee is calculated based on the customer's relationship with the bank and promotions. It will be indicated before payment is made.

Transactions averaged about $5,000, with a majority of users choosing to make monthly recurring payments using the service, according to data since a beta launch in November. Other categories such as taxes, electricity bills and condominium management fees will be introduced next month.

A version of this article appeared in the print edition of The Straits Times on February 27, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe