Hailing from the southern, mostly Italian-speaking Swiss region of Ticino, Ermoti acknowledged that “coming back to manage this situation is a challenge” but felt “a sense of call-of-duty aspect” to return.The Swiss executive will
with some $1.7 trillion worth of assets under its management — which is around 30% of the entire Swiss banking sector.to borrow up to $54 billion failed to reassure investors and customers.Ermotti will replace outgoing CEO Ralph Hamers, who helmed the bank for three years.UBS acquired longtime Swiss banking rival Credit Suisse as part of a $3.2 billion emergency rescue deal brokered by the government.
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