UBS Group AG (UBSG.S) announced Sergio Ermotti as its new CEO and president.
Swiss Re (SRENH.S) chairman Ermotti is returning to the bank he led from 2011 to 2020 after its merger with Credit Suisse (CSGN.S).
UBS says he will succeed Ralph Hamers as CEO on April 5.
Swiss investment bank and financial services organization UBS Group AG Being the largest Swiss bank and the world’s largest private bank, it is co-headquartered in Zürich and Basel. UBS customer services maintain tight bank–client confidentiality and banking secrecy.
The Financial Stability Board deems the bank worldwide systemically significant due to its strong presence in the Americas, EMEA, and Asia Pacific regions.
UBS offers worldwide wealth management, asset management, and investment banking for private, corporate, and institutional clients. UBS oversees half the world’s billionaires’ fortune. UBS is a worldwide investment bank and leading market maker while cutting sell-side activities.
The bank has many underground vaults, bunkers, and gold bar storage facilities in the Swiss Alps and elsewhere. Due to its financial secrecy, U.S., French, German, Israeli, and Belgian authorities have investigated tax evasion. The 2018 Financial Secrecy Index rated UBS Switzerland and US operations top and second.
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