Sergio Ermotti Returns as UBS CEO After Credit Suisse Deal
March 29 2023 - 1:30AM
Dow Jones News
By Adria Calatayud
UBS Group AG said Wednesday that it has decided to appoint
Sergio P. Ermotti as its new chief executive replacing Ralph
Hamers, and said the change is a result of its planned acquisition
of rival Credit Suisse Group AG.
The appointment of Mr. Emotti--who was UBS's CEO in the
aftermath of the global financial crisis and stepped down in 2020
after nine years in the role--will become effective on April 5, the
bank said.
Mr. Hamers agreed to step down to serve the interests of the
combination with Credit Suisse, UBS said. He will remain at UBS and
work alongside Mr. Emotti during a transition period to ensure a
successful closure of the deal, the bank added.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
March 29, 2023 01:15 ET (05:15 GMT)
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