Olivant, the investment company run by former UBS banker Luqman Arnold, has cranked up the pressure on the Swiss bank's plans for a new chairman by naming for the first time its preferred candidates, just a week before UBS’ annual meeting.

Olivant earlier this month called on UBS’ non-executive vice chairman Sergio Marchionne to initiate a full search process for a new chairman rather than proceeding with its plan to install Peter Kurer to the role, and the company today reiterated its request.