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Sergio Ermotti

Sergio Ermotti
Ermotti in 2012
Born
Sergio Pietro Ermotti

(1960-05-11) 11 May 1960 (age 64)
Lugano, Switzerland
OccupationCEO
EmployerUBS
Term2011-2020 & April 2023–present
PredecessorRalph Hamers
Board member of
SpouseTina Ermotti
Children2

Sergio Pietro Ermotti (born 11 May 1960) is a Swiss manager and investment banker. [1] In April 2021, Ermotti was elected Chairman of Swiss Re, one of the world's largest reinsurance companies, succeeding Walter Kielholz. He was the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020 and regained that position in 2023. [2] He is also a board member of the Institute of International Finance.[3]

Ermotti took over as Group CEO at UBS after the 2011 rogue trader scandal, implementing strict corporate policies governing community standards. He initiated a major restructuring of the bank, redefining strategy, putting wealth management and Swiss business at its centre, alongside asset management and a more focused and capital-light investment banking. Leading the firm for nearly a decade, he was the longest serving head of UBS.[4][5] In February 2020, UBS announced that Ralph Hamers, CEO of ING Group, would be succeeding Ermotti as Group CEO on 1 November 2020. Following the acquisition of Credit Suisse by UBS, Ermotti was appointed to lead the UBS Group again, replacing Hamers on 5 April 2023.[6]

It has been speculated that he might transition into Swiss politics after his career in banking.[7] He ruled out entering select political races for the Bundesrat stating that he was "not a politician."[8] In addition to English, Ermotti speaks Italian, German, and French fluently.

  1. ^ "UBS: Sergio Ermotti as Chairman?". finews.asia. 3 October 2017. Retrieved 20 April 2018.
  2. ^ "Neuer UBS-Chef Ermotti - Der richtige Mann für den schwierigsten Job der Schweiz?". Schweizer Radio und Fernsehen (SRF) (in German). 29 March 2023. Retrieved 25 June 2023.
  3. ^ "board member".
  4. ^ "UBS: Sergio Ermotti as Chairman?". finews.asia. 3 October 2017. Retrieved 20 April 2018.
  5. ^ Clark, Simon (3 March 2020). "Swiss Re Picks UBS CEO Ermotti as Next Chairman". Wall Street Journal. ISSN 0099-9660. Retrieved 13 April 2020.
  6. ^ Tan, Joanna; Lee, Jihye (29 March 2023). "UBS names Sergio Ermotti as new Group CEO, following acquisition of Credit Suisse". CNBC.
  7. ^ "Sergio Ermotti for President?". finews.asia. 21 July 2017. Retrieved 10 April 2018.
  8. ^ Atkins, Ralph (19 July 2017). "UBS CEO rules out filling vacancy in Swiss cabinet". Financial Times. Retrieved 10 April 2018.

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