UBS plumps for an outsider to replace Ermotti

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Bank Strategy

UBS plumps for an outsider to replace Ermotti

David Rothnie
February 20, 2020 03:30 pm
Hamers_PA_575x375_20Feb2020
Ralph Hamers, CEO and chairman Executive Board ING Group speaks during high level panel at the COP24 Katowice, Poland on the 4th of December 2018. COP24 is organized by UN Framework Convention for Climate Change (UNFCCC). (Photo by Dominika Zarzycka/NurPhoto) | NurPhoto/NurPhoto/PA Images

A lack of credible internal candidates and a desire for stability across its divisions led UBS to cast the net wider to find a successor to chief executive Sergio Ermotti. It has appointed ING CEO Ralph Hamers.

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