UBS UBS CH:UBSG announced that effective on April it will bring back former chief executive, Sergio Ermotti, to his former role, replacing Ralph Hamers, who is Dutch, after reaching a deal to buy Credit Suisse.UBS UBS UBSG announced that effective on April it will bring back former chief executive, Sergio Ermotti, to his former role, replacing Ralph Hamers, who is Dutch, after reaching a deal to buy Credit Suisse.
Hamers alluded to the need to have a Swiss national take control. “I am of course sorry to leave UBS, but circumstances have changed in ways that none of us expected. I am stepping aside in the interests of the new combined entity and its stakeholders, including Switzerland and its financial sector – it has been a pleasure and privilege to lead this great bank to where it is today,” said Hamers in a statement.
“With his unique experience, I am very confident that Sergio will deliver the successful integration that is so essential for both banks’ clients, employees and investors, and for Switzerland,” said Kelleher.
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