UBS CEO Ermotti Plans Potential Exit by 2030 Amid Post-Credit Suisse Overhaul
Ermotti Discusses Leadership Tenure and UBS's Future After Credit Suisse Acquisition
Ermotti's Timeline for Departure
ZURICH, June 4 (Reuters) - UBS CEO Sergio Ermotti hopes to no longer be in his role at the helm of the Swiss bank by 2030, he said at the Swiss Economic Forum, in an interview aired by public broadcaster SRF on Friday.
"I hope not," Ermotti said in response to a question on whether he will still be UBS CEO in four years' time.
Leadership Succession and Regulatory Challenges
Succession Planning at UBS
Reuters reported earlier this year that Ermotti could stay in his role well into the second half of 2027 to steer UBS through a regulatory overhaul and give the board more time to replace him, as an obvious internal successor has yet to emerge.
Impact of Credit Suisse Takeover
UBS acquired fallen rival Credit Suisse in a state-engineered emergency takeover in 2023, and government proposals for tougher capital requirements have been weighing on the bank's share price.
"We had hoped that perhaps the issue of what happened with Credit Suisse would not affect us so directly," Ermotti said, adding that UBS would likely emerge from the crisis' post mortem "with a black eye."
UBS's Commitment to Switzerland
Future Outlook for UBS and Switzerland
He is very confident that Switzerland and UBS can be a strong duo in the future, Ermotti said, reiterating his preference for a Swiss base for the banking giant. "We absolutely want to stay in Switzerland," he said.
Reporting Credits
(Reporting by Ariane LuthiEditing by Linda Pasquini)
