Christian Bluhm agreed to remain in his role as group chief risk officer and member of the group executive board at UBS in the wake of the company’s planned acquisition of Credit Suisse, therefore delaying the handover to Damian Vogel that was originally planned for May 1.

As Bluhm will remain group chief risk officer, UBS appointed Vogel to the newly created role of group risk control head of integration. In this role, he will lead risk control related integration activities and define the best possible set up for the firm’s combined group risk control function.

“Having both senior risk leaders actively engaged will help ensure that we’re well prepared and appropriately set up in an area that is crucial for our future success,” Sergio P. Ermotti, group CEO at UBS, said. “I want to thank Christian for his readiness to continue in his role as group CRO and Damian for his significant efforts in leading our integration efforts and designing our future risk function.”