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UBS CEO Sergio Ermotti plans to step down in April 2027, FT reports

UBS CEO Sergio Ermotti plans to step down in April 2027, FT reports

By Kim Browne

Culture

UBS Group CEO Sergio Ermotti is planning to step down in April 2027, the Financial Times reported on Tuesday.

Aleksandar Ivanovic, UBS’s asset management chief, has emerged as one of the executives most likely to succeed Ermotti, the FT report said, citing sources.

Reuters could not immediately verify the report. UBS did not immediately respond to a request for comment outside regular business hours.

Ermotti was rehired by UBS as CEO in 2023 to steer its massive takeover of neighbour Credit Suisse in a surprise move to take advantage of the Swiss banker’s experience rebuilding the bank after the global financial crisis.

He previously headed UBS from 2011 to 2020.

The other leading candidates to succeed Ermotti are UBS’s wealth management co-heads Iqbal Khan and Robert Karofsky, the FT report said, while adding that Bea Martin, who was announced as the bank’s chief operating officer in October, is also seen as a contender. REUTERS

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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