Kengeter to become chief executive at Deutsche Börse

Carsten Kengeter is to become chief executive of Deutsche Börse in a comeback by the former head of UBS's investment bank. He left last year after the Swiss lender decided to wind down large parts of its bond trading business.

He will succeed Reto Francioni after the company's annual meeting in June next year, Europe's largest stock market operator by value said yesterday.

Mr Kengeter (47) is returning to a top management role about 18 months after he left UBS in the wake of turbulent times at the Swiss lender.

He stepped down from the bank’s management board in 2012 to run UBS’s non-core operations, which housed a large part of the former bond trading business. But he departed from the Swiss lender altogether only a few months later.

– (Copyright The Financial Times Limited 2014)