UBS CEO Sergio Ermotti resigns!
——
Bang on Paradeplatz in Zurich: Sergio Ermotti (59) vacates the chief position at UBS. The Ticino resigns at the end of October 2020. The big bank wrote in a message on Thursday night.
–
Until now, it was assumed that Ermotti would run his bank himself until 2021. An anniversary year. So he would have filled the ten years as UBS boss full. But Ermotti can still celebrate with nine years in office. Because no big bank boss has been at the helm for so long.
–
Sergio Ermotti joined UBS in April 2011. After the resignation of Oswald Grübel (76) in September of the same year, he temporarily took over the fortunes of the bank. Two months later, he became permanent CEO of UBS. And now the end of October is over.
–
Ermotti: «Right time to start a new chapter»
In the UBS announcement, Chairman of the Board of Directors, Axel A. Weber, thanks his CEO for the “extraordinary effort” he has made over the past nine years. “Sergio led the transformation of UBS after the global financial crisis,” continued Weber. Today, the bank is the world’s leading asset manager.
–
Ermotti also has a say in the statement. He thanks his employees and says: “After almost a decade as CEO, it is the right time for me to open a new chapter.” Until then, he will continue to implement the strategy and ensure a smooth transition.
–
A Dutchman becomes the new head of UBS
Sergio Ermotti’s successor is already known: Ralph Hamers (54) joins UBS in September and will lead the bank as CEO from November. The Dutch businessman is currently CEO of the ING Group – an all-finance service provider.
–
UBS Board Chairman Axel A. Weber is looking forward to his new CEO: “Ralph Hamers is the right CEO to guide our bank through the next phase of its development.” And Hamers himself can be quoted in the message as follows: “I am honored to be given the chance to run this great company.” And the designated UBS CEO also has praising words for his predecessor: “I admired the strategy implementation under the direction of Axel and Sergio from the start.”
—
