UBS will nominate Deutsche Boerse Chief Executive Reto Francioni for election to the board in May, the Swiss bank said on Tuesday.

Francioni, CEO of Deutsche Boerse since 2005, is a Swiss national, who was previously chairman of the Swiss exchange and also worked for Credit Suisse in New York after starting his career at UBS in Zurich.

UBS also said in a statement that former Lufthansa chief executive Wolfgang Mayrhuber would not stand for re-election to the board at the annual general meeting on May 2.

(Reporting by Emma Thomasson)