(Bloomberg) -- UBS Chief Information Officer Oliver Bussmann, a driving force behind the bank's effort to develop the bitcoin technology for the industry, is leaving the Swiss lender.

Chief Operating Officer Axel Lehmann will take the role until a replacement is found, UBS said in a memo seen by Bloomberg Wednesday. It didn't say what Bussmann's plans were. A spokeswoman confirmed the memo's contents, declining to elaborate.

Bussmann "drove the modernization of our technology infrastructure, simplified our application landscape, and actively championed technology innovation as a key competitive advantage for UBS," Lehmann said in the memo.

A German national, Bussmann joined UBS from SAP in 2013. In October 2014, he predicted that blockchain, the software that made the bitcoin digital currency possible, would reinvent the financial industry. His comments drew attention to blockchain's potential, and many banks are now exploring applications.

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