Kaspar Villiger will step down as chairman of the board of trustees of the UBS Center for Economics in Society (UBS Center) at the University of Zurich at the end of the year, according to a statement released on Tuesday.

His successor, Christian Mumenthaler, former Group CEO of Swiss Re, will take on the role starting January 1, 2025. «Christian Mumenthaler brings a unique perspective to the mission of the UBS Center. His commitment to dialogue and forward-thinking approach aligns perfectly with the goals of the Center,» the statement said.

Kaspar Villiger’s Legacy

The UBS Center for Economics in Society was established in 2012 as an associated institute of the University of Zurich. It was made possible by a CHF 100 million donation to mark the 150th anniversary of UBS.

The initiative was spearheaded by Kaspar Villiger, who was then chairman of the board of UBS. This effort was part of an educational initiative aimed at positioning Switzerland as a leading hub for research and education. Together with UBS Group CEO Sergio P. Ermotti and Ernst Fehr, Villiger founded a foundation to connect academia, business, and politics in addressing key economic and societal challenges. «The former Federal Councillor recognized the importance of cross-disciplinary collaboration and created a unique platform for dialogue,» the statement highlighted, praising Villiger's dedication.

In 2020, UBS reinforced its commitment with a further CHF 27 million donation to support the Center’s growth for the next decade.

«Exceptional Leadership Demonstrated»

«Kaspar Villiger is an exceptional leader whose vision and dedication were instrumental in bringing together academia, business, and politics under the UBS Center’s roof. His legacy will inspire us for many years to come,» said Ernst Fehr, vice-chairman of the board of trustees.

UBS Group CEO Sergio P. Ermotti added: «Kaspar Villiger demonstrated extraordinary leadership and exemplified the UBS Center's vision through his extensive political and business experience and network. He guided the Center with prudence and foresight, paving the way for a successor who will continue its success story.»