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The Independent UK
The Independent UK
National
Jamey Keaten

UBS brings back former CEO with Credit Suisse deal ahead

UBS Credit Suisse Sergio Ermotti Colm Kelleher Ralph Hamers
KEYSTONE / MICHAEL BUHOLZER

UBS said Wednesday that it's bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse.

Ermotti, who was the bank's top executive for nine years, will take over next Wednesday from CEO Ralph Hamers. Hamers took up the job in November 2020 and will remain at UBS during a transition period “to ensure a successful closure of the transaction and a smooth handover,” the bank said in a statement.

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