Uğur Bayar graduated with a Bachelor of Science degree from the Department of Mathematics and Statistics at the State University of New York. Bayar began his career in 1987 at Citibank Turkey and held various positions in the bank's treasury division until he transitioned to public service in 1992.

Between 1992 and 1997, Bayar served as Deputy President of the Public Participation Administration under the Prime Ministry of the Republic of Turkey, and between 1997 and 2002 he served as President of the Privatisation Administration under the Prime Ministry. During these roles, he held the positions of Chairman of the Board of Directors of Erdemir, Chairman of the Board of Directors of Petrol Ofisi, Member of the Board of Directors of Turkish Airlines, and Member of the Board of Directors of Türk Telekom.

He joined Credit Suisse in 2004 and served as CEO of Turkey and Head of the Investment Banking Division until 2017.

Between 2018 and 2024, he served as an independent board member at Anadolu Efes Biracılık ve Malt San. A.Ş., Anadolu Grubu Holding A.Ş., and Coca-Cola İçecek A.Ş., and between 2019 and 2025, he served as Chairman of the Board of Directors of Tekfen Teknoloji Yatırım ve Ticaret.

Bayar currently serves as an independent board member at Migros Ticaret A.Ş., Adel Kalemcilik A.Ş., and Vakko Tekstil ve Hazır Giyim A.Ş.

Having served as Chairman of the Board of Directors of the World Wildlife Fund (WWF Turkey) between 2010 and 2022, Bayar currently serves as a board member of the Marine Life Conservation Association and as a member of the High Advisory Board of TÜYİD, the Investor Relations Association.