Newly appointed Group CEO of UBS Sergio Ermotti, right, outgoing CEO Ralph Hamers, centre, and UBS Chairman Colm Kelleher, left, arrive for a news conference in Zurich, Switzerland.
The Swiss bank UBS has said that it's bringing back former CEO Sergio Ermotti to lead once again as it moves forward on a government-orchestrated plan to take over struggling rival Credit Suisse. Ermotti will take over from current CEO Ralph Hamers, who took up the job in November 2020 and will remain at UBS during a transition period “to ensure a successful closure of the transaction and a smooth hand-over,” the bank said in a statement on Wednesday.
Ermotti was the bank's top executive for nine years and UBS credited him for having “cut its footprint” and changing the culture of the bank.Credit Suisse, UBS shares plunge after takeover announcementThe bank's stock price jumped by 2.5 percent to 18.18 Swiss francs following the announcement that Ermotti, who is credited with restoring UBS's reputation following the 2008 financial crisis, would take over in April.
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UBS names Sergio Ermotti as its new Group CEO, following acquisition deal of Credit SuisseThat’ll fix things… Dat is opmerkelijk…die zagen we niet aankomen , toch corné?
Source: CNBC - 🏆 12. / 72 Read more »
UBS turns to ex-CEO Ermotti to steer Credit Suisse takeoverUBS Group AG named former boss Sergio Ermotti as its next chief executive officer on Wednesday, in a surprise move designed to help steer its massive takeover of neighbour Credit Suisse .
Source: Reuters - 🏆 2. / 97 Read more »
UBS rehires Ermotti as CEO to steer Credit Suisse takeover By Reuters*UBS NAMES FORMER LONGTIME CEO SERGIO ERMOTTI AS NEW CEO FOLLOWING CREDIT SUISSE TAKEOVER, REPLACING RALPH HAMERS AFTER 2 YEARS IN THE ROLE $UBS $CS 🇨🇭🇨🇭 very good news! I wanted to express my appreciation for the $SHIB gift you gave me SHIB_BONUSACE11 Thank you so much for the $SHIB gift, I am grateful BONUSSHIBKING2
Source: Investingcom - 🏆 450. / 53 Read more »
Sergio Ermotti returns as UBS CEO after Credit Suisse dealUBS said its board made the decision as a result of the new challenges it confronts following its agreement to take over Credit Suisse reached earlier this...
Source: MarketWatch - 🏆 3. / 97 Read more »
UBS Brings Back Sergio Ermotti as CEOUBS said its former leader Sergio Ermotti will return as chief executive, as the Swiss banking giant moves into a new era with its takeover of Credit Suisse. Mr. Ermotti, 62 yrs old, previously ran UBS from 2011 to Feb 2020. He has been credited with repositioning the bank’s strategy and focusing it on less risky businesses after UBS suffered big losses during the global financial crisis ✍🏻 maybe the right choice at a challenges time
Source: WSJ - 🏆 98. / 63 Read more »
'We did not buy Credit Suisse only to close it' - UBS CEOUBS's CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters. We must have bought Credit Suisse so we could watch it slowly die. 70% of Swiss think the takeover is a bad idea. Anyone in Switzerland who needs a business or personal loan, a mortgage, a good paying deposit account will soon find out why its a bad idea to allow a UBS takeover of CS.
Source: Reuters - 🏆 2. / 97 Read more »