UBS CEO wants to present successor like last time
Published: Monday, May 13th 2024, 15:50
Zurück zu Live Feed
UBS boss Sergio Ermotti would like to present a suitable CEO candidate when he leaves in a few years' time. His successor is not yet a top priority, Ermotti said on Monday at an event organized by the Reuters news agency in Zurich. But it is certainly important to have a list of suitable candidates - with different characteristics.
This is because, depending on the time and circumstances, a different person might be the most suitable candidate. Ermotti confirmed earlier statements that he himself will remain in office at least until the integration of Credit Suisse has been completed. This has been agreed with the Board of Directors. That would therefore be until the end of 2026 or in the course of 2027.
His aim would then be to present a successor - "just like last time". However, the decision ultimately lies with the Board of Directors.
"Culture" of CS not that different
The UBS CEO also reiterated statements made just last week when the quarterly results were published: the CS integration is going very well. This also applies to the "cultural" integration, he said in response to a corresponding question.
There are not so many differences between the former Credit Suisse and UBS in this respect. They have common ground in many areas and share the same values and ideas about how business should be done.
However, he again refused to put a figure on the inevitable job cuts resulting from the integration. Nor would he comment on any speculation to this effect. The Financial Times recently wrote that UBS management was planning for a total of 85,000 employees after the end of the integration. At the end of 2022 - before the takeover - UBS and CS had a total of around 123,000 employees.
The headcount will definitely be reduced, albeit not immediately, said Ermotti. However, the aim is to minimize "active redundancies". He referred to staff turnover and retirements.
©Keystone/SDA
German 
English 
French 
Spanish 
Arabic