Axel A. Weber was elected to the Board of Directors (BoD) of UBS AG at the 2012 AGM and of UBS Group AG in November 2014. He is Chairman of the BoD of both UBS AG and UBS Group AG. He recently led the work examining the World Bank’s Capital Adequacy. He has chaired the Governance and Nominating Committee since 2012 and became Chairperson of the Corporate Culture and Responsibility Committee in 2013. He is chairman of the Institute of International Finance, a board member of the Swiss Bankers Association and the International Monetary Conference, and a member of the Group of Thirty as well as the Trilateral Commission, among others. Mr. Weber was president of the German Bundesbank between 2004 and 2011, during which time he also served as a member of the Governing Council of the European Central Bank, a member of the Board of Directors of the Bank for International Settlements, German governor of the International Monetary Fund and as a member of the G7 and G20 Ministers and Governors. Mr. Weber holds a PhD in economics from the University of Siegen, where he also received his habilitation. He graduated with a master’s degree in economics at the University of Konstanz and holds honorary doctorates from the universities of Duisburg-Essen and Konstanz.