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Former UBS CEO Returns to Lead Credit Suisse Takeover

Former UBS CEO Returns to Lead Credit Suisse Takeover

(31 March 2023 – Switzerland) UBS named Sergio Ermotti as the new Group Chief Executive (CEO) following the recent acquisition of Credit Suisse.

Ermotti, UBS CEO for nine years before stepping down in 2020, will lead the merger of two of the world’s largest banks after Ralph Hamers was pushed aside.

He will succeed Ralph Hamers from April 5 who stepped down as CEO and will resume working with Ermotti as an advisor during the smooth transition process for the Globally Systemically Important Banks (G-SIBs).

“I cannot emphasise how big a deal this is in terms of financial history and financial engineering that’s required” commented UBS Chair, Colm Kelleher.

“It’s about having the best person in our opinion to effect the execution of this merger.”

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