FILE PHOTO: A UBS advertisement is displayed on top of a commercial building in Hong Kong, China May 2, 2017. REUTERS/Bobby Yip/File Photo

ZURICH (Reuters) - UBS UBSG.S said it is nominating Jeremy Anderson and Fred Hu for election to its Board of Directors at its annual general meeting in May.

William G. Parrett will step down from the board to focus on his new role as Chairman of the Board of UBS Americas Holding, the Swiss bank said on Tuesday.

Chairman Axel Weber and the other members of the board will stand for re-election for a further one-year term, it added.