More than 30 years after starting his financial career at UBS, Deutsche Börse chief executive Reto Francioni will resume his relationship with the Swiss bank when he joins its board at May’s annual general meeting.

UBS today announced that Swiss-born Francioni will be nominated as a board director at the May 2 AGM, subject to shareholder approval. He has been nominated to succeed Wolfgang Mayrhuber, the former chief executive of airline Deutsche Lufthansa who has sat on the UBS board since 2010 and is not standing for re-election this year.