The new organization will report to Suni Harford, Group Executive Board sponsor for Sustainability and Impact and President of UBS Asset Management.

Michael Baldinger is appointed Chief Sustainability Officer for UBS. Michael brings extensive experience to this newly-created role, with nearly 35 years working in the financial services industry and over a decade as an investor in sustainability. Before joining UBS in 2016 as Head of Sustainable and Impact Investing for UBS Asset Management, Michael was the CEO of RobecoSAM, the sustainability specialist firm. As Chief Sustainability Officer, he will be responsible for setting and driving implementation of the strategy and will provide oversight for all SI-related projects and activities.

Phyllis Costanza is appointed Head of Social Impact. She will continue to be responsible for the group’s Philanthropy Services, Optimus Foundation and Community Affairs activities. Phyllis brings more than two decades of experience in philanthropy and social impact and has built the Optimus Foundation into a world leader in effective philanthropy and innovative development finance. As we work to address social issues and deliver environmental, social and financial impact, we will sharpen the focus of our activities on health and education, in particular, two key levers in forging a fairer, more prosperous society.

The new Sustainability and Impact organization, which brings together leading subject matter experts and thought leaders from across the firm, will act as a focal point and center of excellence, responsible for driving the implementation of our sustainability strategy. It will also track UBS’s progress towards our Net Zero commitments. The announced changes take effect on 1 June 2021.

Suni Harford, GEB Sponsor for Sustainability and Impact, said: “Sustainability is at the core of our new purpose to reimagine the power of investing and connect people for a better world. By creating the Sustainability and Impact organization with these senior appointments, we aim to extend the Group’s leadership in sustainability and take another step toward meeting our Net Zero ambitions.” She added, “Underpinning this is our ongoing commitment to helping our clients mobilize capital in support of the UN’s Sustainable Development Goals that matter most to them.”