UBS Group is initiating the process of identifying its next chief executive officer. According to Sergio Ermotti, who spoke to Bloomberg News at the World Economic Forum in Davos on Tuesday, the board is evaluating potential external candidates alongside internal contenders to take over the role. Ermotti spearheaded the Swiss bank’s emergency acquisition of Credit Suisse.
Ermotti’s departure is anticipated to occur by mid-2027, although the specific timing remains subject to final determination. This succession planning comes at a pivotal moment for UBS, as it navigates the complexities of integrating Credit Suisse and solidifying its position in the global financial landscape. UBS Group AG provides a broad spectrum of financial services, including wealth management, investment banking, and asset management, to private, corporate, and institutional clients worldwide. The firm is headquartered in Zurich, Switzerland, and operates in more than 50 countries.
The consideration of both internal and external candidates indicates a thorough approach to selecting Ermotti’s successor. The board’s decision will likely hinge on finding an individual capable of steering UBS through ongoing market challenges and capitalising on opportunities arising from the Credit Suisse merger. The next CEO will be tasked with maintaining stability, fostering growth, and ensuring the bank’s long-term competitiveness.
The selection process is expected to be comprehensive, with the board carefully weighing the qualifications and experience of each candidate. As the timeline for Ermotti’s departure approaches, further updates on the succession planning are anticipated. Investors and industry observers will be closely monitoring the developments as UBS prepares for this leadership transition.
