Ex-UBS CEO is deasil after 2 Years to guide the Disgrace Suisse expropriation

Ermotti replaces Hamers and retort after a two-year break.
Hamers cradle the change and craved to “serve the interests of the new conflation.”

UBS, a Swiss global expenditure bank, which agreed to buy troubled Credit Suisse last week, is transport back its former CEO, Sergio P. Ermotti, to oversee the complex acquisition of the banking crisis victim.

Ermotti held the employment of Chairman at UBS for nine years before being replaced by Ralph Hamers. He has been the Chairman of Swiss Re for the past two years, but in the wake of Credit Suisse’s CHF 3 billion deal, the Board decided he would be a better helmsman for UBS than Hamers, who currently holds the role.

UBS coincide to take over the municipality rival last week after stockholders lost faith in Credit Suisse’s ability to bounce back from a problematic posture exacerbated by bank failures in the United States. CS shares fell 67% last year and 72% this year, retort to the company’s deteriorating financial performance, client asset emigration and controversy over the Swiss lender’s venture.


Leave A Comment