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Rudolf Mueller, the chairman of Union Bank of Switzerland in the UK, is to join the board of Lend Lease, Australia's biggest property and financial services group.

Mr Mueller steps down from the executive board of UBS at the end of this month, although he will remain non-executive chairman in London.

Lend Lease, which has A$33.1bn (pounds 17m) under management, has been operating in the UK for five years.