Colm Kelleher
Colm Kelleher | |
|---|---|
| Born | May 30, 1957 Bandon, County Cork, Ireland |
| Occupation(s) | Business leader, banker |
| Years active | 1980s–present |
| Known for | Chairman of UBS Group, former president of Morgan Stanley |
Thomas Columba "Colm" Kelleher (born 30 May 1957) is a business leader and banker holding dual Irish-British nationality. Since 2022, he has been the chairman of UBS Group, the Swiss global investment bank and financial services corporation. Before his tenure at UBS, Kelleher spent around thirty years at Morgan Stanley from 1989 until 2019, where he occupied multiple senior positions.
Early life and education
Kelleher was born on 30 May 1957 in Bandon, County Cork, Ireland, into a large Catholic family. During his teenage years, his family relocated to Warrington, England. He attended St. Edward’s College in Liverpool for his secondary education. He later graduated with a Master of Arts degree in modern history from Oxford University’s Oriel College, where he also holds an honorary fellowship.
Career
Kelleher launched his professional journey at the London-based bank Robert Fleming & Co before spending four years at auditing firm Arthur Andersen, during which he qualified as a chartered accountant. In 1985, he joined County Bank of London, a subsidiary of NatWest.
Morgan Stanley (1989–2019)
In 1989, Bob Diamond recruited Kelleher to Morgan Stanley’s London office, where he specialized in sales within the debt markets division focusing on fixed income. During the 2008 financial crisis, as CFO and co-head of strategy, he played a pivotal role in shrinking Morgan Stanley’s balance sheet, boosting liquidity, and converting the firm into a traditional bank holding company to gain access to funding from the US Federal Reserve. He was key in facilitating a $9 billion capital investment from Japanese financial institution Mitsubishi UFJ Financial Group.
Kelleher spearheaded Morgan Stanley’s purchase of Citigroup’s Smith Barney brokerage unit in 2009, significantly enhancing its wealth management division. Later that year, he was named co-president of the Institutional Securities Group with responsibilities including restructuring the investment bank and expanding wealth management operations. Following an internal leadership contest with co-president Paul J. Taubman, Kelleher became the sole leader in 2012.
In 2015, he directed a comprehensive restructuring of Morgan Stanley’s fixed income business and was elevated to president of the company in 2016, overseeing both Institutional Securities and Wealth Management divisions. This advancement coincided with Greg Fleming’s exit, who had been head of wealth management and considered CEO successor. Kelleher retired from Morgan Stanley in 2019 but continued as a special adviser with ongoing access to company resources.
After retirement, Kelleher was considered for supervisory chairman positions at Deutsche Bank and Credit Suisse but ultimately did not assume either role.
UBS (2022–present)
In April 2022, Kelleher was appointed chairman of UBS’s board, succeeding Axel A. Weber. Amidst the 2023 US regional banking crisis, he led UBS through its acquisition of Credit Suisse. Kelleher appointed former CEO Sergio Ermotti to replace Ralph Hamers, guiding integration and restructuring initiatives following the merger.
Other activities
Kelleher is a board member of the Bretton Woods Committee and the Bank Policy Institute, and serves as an advisor to the British Museum. From 2019 until 2025, he was on the board of Norfolk Southern. He holds the distinction of being a freeman of the City of London and is recognized as a Fellow of the Institute of Chartered Accountants in England and Wales. Additionally, he is a visiting professor specializing in banking and finance at Loughborough University’s business school.
Personal life
Kelleher is married and has three children: two sons and a daughter. Following his retirement from Morgan Stanley, he undertook the extensive pilgrimage of the Camino de Santiago, covering close to 500 miles, during which he raised more than US$330,000 for Student Sponsor Partners. He currently lives in Zürich and holds real estate assets in both London and Tuscany. His brother, Declan Kelleher, previously served as Ireland's ambassador to the European Union and China.