UBS chief risk officer quits to become professional photographer

Discussion in 'Wall St. News' started by blueraincap, Nov 8, 2022.

  1. UBS’s chief risk officer Christian Bluhm has resigned from the Swiss bank to become a full-time professional photographer. The unusual career change, announced on Tuesday, will lead to Bluhm opening a studio and gallery in Zurich’s historic centre, a short distance from UBS’s headquarters, as he swaps capital ratios for aspect ratios.

    A mathematician by training, the 53-year-old German will leave the bank in May to focus on his business and other academic opportunities. He has already launched a website, featuring cityscapes, nature photography, and wedding and beauty shots. On his website, he said his love of photography blossomed after a friend showed him how to take a clear photo of the Big Dipper star constellation in the night sky. “That experience fascinated me so much that I started a never-ending journey into professional photography,” Bluhm wrote.

    Bluhm is following in the footsteps of Matthew Greenburgh, the former Bank of America Merrill Lynch dealmaker and adviser on the RBS-ABN Amro and Lloyds Bank-HBOS takeovers, who quit banking in 2010 aged 49 to pursue a career in photography.

    Christine Novakovic, UBS’s Europe chief executive, spent two years as an art dealer before joining the Swiss lender in 2007. UBS chief executive Ralph Hamers said he wished Bluhm the best for the future. “I’d also like to personally thank Christian for his leadership and commitment over the last six years and for the significant contributions he and his team have made to our sustainable performance through active risk management.” Bluhm has been chief risk officer of UBS since 2016, during which time the bank has avoided being entangled in many of the scandals that have hit its Swiss rival Credit Suisse. UBS did, however, suffer an $861mn loss on the collapse of family office Archegos Capital last year, but that was overshadowed by Credit Suisse’s $5.5bn loss.

    Both banks had offered prime broking services to the investment business run by former Tiger Management analyst Bill Hwang. Hamers has set about reshaping his executive team over the past two years, bringing in a new chief financial officer, a new head of the Americas and giving more power to the head of wealth management, Iqbal Khan. The new chief risk officer will be Damian Vogel, who at present manages risk in the bank’s wealth management business. “With his strong track record, in-depth risk expertise, and experience across all asset classes, Damian is ideally suited to lead our risk function into the future,”
     
  2. ET180

    ET180

    I don't blame him. Photography brings him more fulfillment and he doesn't need the money. CEO of GS is a DJ. He's actually a good DJ:

     
    murray t turtle likes this.
  3. cesfx

    cesfx

    A banker who needs no more money, decides to become a wedding photographer, so he can take away jobs from struggling photographers.
    That's how I read this news....

    There is a guy around the corner from me who makes coffees from a Piaggio Ape, this 3 wheel Italian farmer vehicle converted into mobile coffee shop.

    Same story... Banker, loaded, bored with his jobs, decide to take away some barista/coffee shop owner jobs/business from the people who really need it to make ends meet.His coffee it's pretty average too.
     
  4. Nobert

    Nobert

    But it is, a, free market overall.

    It's possible that he invested more time and effort into his skillset than some of those professionals, that ,,will loose their jobs because of him".

    I know some artists, tattoo niche. Man. They draw absolute garbage. Some 6 y.o stuff. Not even that, they started their tattoo journeys without any skill in drawing.
    And someone shows up who has a great background history with black & white style, yet he or she, never made tattoos before, buuut, in a year, he becomes great and then, then those professionals are wondering why life isn't, fair.
     
    Last edited: Nov 9, 2022
    vanzandt, murray t turtle and cesfx like this.
  5. cesfx

    cesfx

    You are right, it is a free market and lots of good art comes from people who can afford to be creative.
    I just don't think is newsworthy.
     
    apdxyk and Nobert like this.
  6. zdreg

    zdreg

    Everybody should pursue their passion in a small way even if they feel that financial constraints etc. currently prevents them from pursuing it full time.
     
    Last edited: Nov 9, 2022
    murray t turtle, blueraincap and FSU like this.
  7. VEGASDESERT

    VEGASDESERT

    Man retires, finds hobby, the end.
     
    Scataphagos and nrstrader like this.
  8. zdreg

    zdreg

  9. Ninja

    Ninja

    What an amateur. Obviously no contingency plan at all.

    Even decades ago any professional photographer would use multiple cameras. These days you can easily use multiple memory cards and check the photos during the event on your notebook computer.
     
    zdreg likes this.
  10. Cuddles

    Cuddles

    AI is coming for his job too
     
    #10     Dec 3, 2022