LONDON (Reuters) - The chief executive of UBS's (VX:UBSN) British operations is to leave the Swiss bank at the end of September, according to an internal memo seen by Reuters on Thursday.
Mark Yallop, who joined the bank in 2013, is stepping down to pursue other business interests, the memo said. Details of his next role were not disclosed.
During his time at UBS Yallop oversaw the restructuring of the UK business, reviewing its governance, risk and control arrangements and was responsible for strengthening its relationships with regulatory bodies.
Prior to joining UBS, Yallop had worked for more than six years at interdealer broker ICAP (L:IAP) as chief operating officer until 2011 and before that was group chief operating officer at Deutsche Bank (DE:DBKGn).
(Reporting by Clare Hutchison; Editing by Greg Mahlich)