UBS CEO Ermotti expected to step down in 2027
UBS CEO Sergio Ermotti plans to leave the bank in April 2027 after completing the integration of Credit Suiss.
Ermotti had previously said he would lead the Swiss lender “at the very least” until the Credit Suisse merger was wrapped up in late 2026 or early 2027. UBS declined to comment on the FT report, but the bank has said it aims to “substantially” finish the integration by end-2026, News.Az reports, citing Reuters.
The 65-year-old banker also served as UBS CEO between 2011 and 2020 before being brought back in 2023 to oversee the emergency takeover of former rival Credit Suisse. Analysts say his departure timeline is unsurprising given the scale of the project.
Shares in UBS have surged nearly 30% over the past year as European banking stocks rallied and investors grew more optimistic that Switzerland may soften proposed capital requirements for its largest lender. UBS stock has more than doubled since the eve of the Credit Suisse acquisition.
The FT said UBS asset management chief Aleksandar Ivanovic is among the top contenders to succeed Ermotti, citing sources. Other names previously floated include Robert Karofsky, president of the Americas; Asia Pacific head Iqbal Khan; and Chief Operating Officer Bea Martin.
The report comes as UBS pushes back against tougher banking rules proposed by the Swiss government. Ermotti said last year that while the bank intends to remain headquartered in Switzerland, the capital requirements being discussed were not acceptable.
Similar news
