Michael H. Wilson will step down as chairman of UBS Canada and a director of BP PLC to accept an appointment as Canadian ambassador to the United States in mid-March, UBS and BP spokesmen said today. As full-time chairman at UBS, his duties include overseeing the management of C$26 billion (US$22.7 billion) in global assets, said Graeme Harris, spokesman. Mr. Wilson will leave UBS March 3, and a search is under way for his replacement, Mr. Harris said. Whether UBS will use an executive recruiting firm "depends on how successful we are" in finding candidates, and UBS officials hope to fill the position "as soon as an appropriate candidate can be found," he added. Mr. Wilson's resignation from the BP board was as of today. Information on how he will be replaced at BP was unavailable.
(updated with correction)