UBS wants to settle Ermotti’s succession internally
Published: Monday, May 27th 2024, 10:30
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According to a report in the Financial Times, the major bank UBS has ruled out an external successor to Group CEO Sergio Ermotti. Instead, the bank plans to choose from a shortlist of three internal candidates when Ermotti steps down in around three years' time.
UBS could announce the names of potential successors as early as next year's Annual General Meeting, according to the newspaper, citing insiders. According to the newspaper, no final decision has yet been made on the successor.
However, it is expected that Iqbal Khan, the head of wealth management, will be among this shortlist. Rob Karofsky, head of the investment bank, is also said to be a potential candidate, as is Bea Martin, who oversees UBS's non-core and legacy unit.
Sabine Keller-Busse is also being discussed as a potential candidate. She heads the Swiss business of UBS.
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