Time for a transformer / comment on the change of boss at UBS
by Daniel Zulauf
Frankfurt (ots) – The UBS Board of Directors has had a full 15 months
a new one
Looking for a boss, said its president Axel Weber yesterday at one
short term
called and obviously improvised something
Press conference at which he
presented the result to the media. The next CEO of the
largest
Asset management bank does not become a private banker, and neither does it
Investment bankers,
like this for the past 22 years since the merger of the
Swiss
Bankverein and the Swiss banking company for today
UBS usual
was. The appointment of ING boss Ralph Hamers is really a big one
Surprise.
There may be some simple reasons for this, such as the short one
Availability of
Candidates dealing with the diversified business model
know that
Large Swiss banks have been operating for a long time. But the real motive
should be deeper
lie. UBS has been struggling to get out of it for years
Position in
capitalize global banking market. The stock bobs in front of itself
there and
the dissatisfaction of investors is constantly increasing. Save costs
is a
Way to higher dividends. But shareholders know this
at some point
comes to an end. Instead, they expect their bank to finally do so
on the
Finds back growth path. This job is the previous boss
Sergio Ermotti
in his almost nine years in office never quite lived up to it.
But why should Hamers succeed? The
Dutch ING is
essentially a retail bank. But it has a digital one
Business model that allows them to be outside of their small business
home market
Millions of customers are gaining. The many small customers that ING in the
Benelux countries and also reached in Germany are not that
UBS target audience. But obviously the Dutch know
better than the
Swiss, like the demands of modern bank customers
Convenience and the
Price of the services offered are to be satisfied.
The still strong UBS brand is a value that speaks for itself
electronic channels
undoubtedly could be sold even better. But the clock runs against it
Banks. The
Most valuable brands now belong to the big ones
Technology corporations that their
Opportunities in the global banking market have long been discovered for themselves
to have. The
UBS has now brought a transformer to remedy the situation.
His first
However, the task will be to maintain the acquis. That’s nice
difficult
enough. Only then can UBS think about growth again.
(Börsen-Zeitung, February 21, 2020)
Press contact:
Stock exchanges newspaper
editorial staff
Telephone: 069–2732-0
www.boersen-zeitung.de
Further material: https://www.presseportal.de/pm/30377/4526018
OTS: Börsen-Zeitung
AXC0407 2020-02-20 / 20:21
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