Mon, May 27th 2024
UBS will choose its next CEO from internal candidates, excluding external hires. Names may be revealed at next year’s annual meeting.
UBS has announced it will appoint its next CEO from a pool of internal candidates, foregoing the option of an external hire claims reports from Reuters. The bank has identified three potential successors to current CEO Sergio Ermotti, who plans to step down in approximately three years, as reported by the Financial Times on Monday.
According to the newspaper, UBS might disclose the names of the potential candidates as early as the next annual meeting. The bank has yet to respond to requests for comment.
While the final shortlist is still under discussion, Iqbal Khan, the wealth management director, is a likely candidate. The other internal contenders include Robert Karofsky, who leads the investment bank; Beatriz Martin, head of UBS’s non-core and legacy unit; and Sabine Keller-Busse, who oversees the Swiss business.
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