UBS begins search for successor as CEO announces plans to step down
(14 February 2020 – Global) UBS is searching for a successor to CEO Sergio Ermotti after Mr Ermotti briefed executives on his plans to step down this year.
Mr Ermotti, one of Europe’s longest-serving CEOs, is in his ninth year in the top job and joins a Europe-wide trend of bank executives getting ready to hand over the reins to the next generation.
UBS joins Societe Generale and HSBC in the hunt for a CEO.
International wealth management co-head Iqbal Khan, a star hire who joined UBS in October from crosstown rival Credit Suisse Group, is not thought to be among the front runners to take the top role given his relatively brief tenure.