UBS, the Swiss banking giant, has confirmed that Mike Dargan, its Group Chief Operations and Technology Officer, will be stepping down at the end of December 2025, the firm announced in a press release on Monday. The departure comes at a critical point in the bank’s ongoing integration of Credit Suisse, placing fresh emphasis on the need for operational continuity as UBS presses ahead with one of the most complex mergers in European banking history.
Dargan, who has been a member of UBS’s Group Executive Board since 2021, has overseen significant elements of the technology and operations strategy across the group. In a statement, UBS said he had decided to leave to pursue an opportunity outside the bank, with the Group Technology function set to report into the newly appointed Group Chief Operating Officer Beatriz Martin from 1 January 2026.
Operational Leadership in Transition
The restructuring of senior roles at UBS reflects the bank’s priority to ensure a seamless end-to-end operation as it continues to fold Credit Suisse’s systems and clients into its own. Chris Gelvin, currently Chief Operating Officer for Group Technology, will serve as interim Head of Group Technology until a permanent successor to Dargan is named.
Sergio P. Ermotti, Group Chief Executive, paid tribute to Dargan’s contributions, noting that he had been ‘instrumental in positioning our technology as a driver of business growth and resilience’ while advancing UBS’s digital and artificial intelligence ambitions. Ermotti also welcomed Martin into her expanded role, highlighting the importance of operational leadership during the final phases of the integration.
Benchmarking the Integration Challenge
UBS’s takeover of Credit Suisse in 2023 was orchestrated under extraordinary market and regulatory pressure, making it one of the most closely watched consolidation efforts in recent banking history. The acquisition brought with it significant technology and operations complexity, as systems and client platforms were scheduled for gradual unification.
In October 2025, UBS disclosed organisational adjustments to its executive board, with Martin taking on broader operational responsibilities, including oversight of integration tasks and non-core divisions.
Despite progress, parts of the integration have faced delays. Reuters reported that UBS postponed the migration of some high-net-worth Credit Suisse clients to its own platforms, a move seen as a rare setback in what has otherwise been a largely orderly consolidation process.
The decision underlined the sheer scale of reconciling divergent technology systems within two global banks.
Future Plans and External Opportunity
Dargan’s next role is set to be as chief executive of German digital bank N26, beginning in April 2026, subject to regulatory approval. His move into the fintech sector has attracted considerable attention given the fresh sanctions recently imposed on N26 by German regulators over risk management and governance shortcomings, a situation covered in part by the Financial Times.
Industry observers say Dargan’s transition out of UBS will be watched closely, as his tenure coincided with one of the most intensive technology transformation efforts in Swiss banking. Martin’s arrival at the operational helm aims to sustain momentum, combining technology oversight with broader operational strategy in a single executive portfolio.
Looking Ahead
As UBS enters 2026 with renewed executive focus, the industry will be assessing how the departure of a key technology figure affects the integration timeline and broader strategic goals. The bank’s ability to manage that transition effectively will be crucial to maintaining trust among clients, investors and regulators in an increasingly competitive global banking landscape.