Mark Yallop

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Mark Yallop
MarkYallop.jpg
Occupation U.K. Group Country Chief Executive
Employer UBS AG
Location London

Mark Yallop is U.K. group country chief executive officer at UBS AG, responsible for all of the firm’s operations in Britain. He was named to that newly created position in February 2013, reporting to COO Ulrich Koerner. [1] He was appointed to the newly created role shortly after UBS was fined almost £1bn by regulators for rigging the LIBOR interest rate benchmark. His principal responsibilities have been to rebuild UBS's relationships with City of London regulators in the wake of the Libor penalty as well as the episode in which a "rogue trader", Kweku Adoboli, was jailed for making unauthorised trades that cost the bank $2.3bn.

On August 1, 2014 Sky News reported that Yallop would leave his position at UBS at the end of September.[2]

He was previously the chief operating officer with the British interdealer broker ICAP Plc. He was also chairman of ICAP's group risk committee, a board director and a member of its finance and treasury committees, and has also served as ICAP's interim financial director.

Background

Before joining ICAP in 2005, Yallop served for two years as chief operating officer for the Deutsche Bank Group after career spent in financial trading in the derivatives, cash and forex markets.[3] He was also a director of the International Swaps and Derivatives Association (ISDA) from 1996 to 1998.

Yallop served as a non-executive director at BBA Libor Ltd., the company that manages the London interbank offered rate for the British Bankers’ Association, from May 2010 to Sept. 2011, according to filings at the U.K.’s Companies House.

References

  1. UBS Name Former ICAP COO Yallop U.K. Group Country CEO. Bloomberg.
  2. Former Libor Boss Quits Top UK Post At UBS. Sky News.
  3. Executive profile: Mark Yallop. BusinessWeek.