The shake-up creates new responsibilities for two leading contenders to eventually run the Swiss bank after CEO Sergio Ermotti
said on Thursday it would split its top wealth management role as part of a shake-up of its executive board, creating new responsibilities for two leading contenders to eventually run the Swiss bank after CEO Sergio Ermotti.
Ermotti said in a statement the new appointments put “even more emphasis on our long-term priorities and growth prospects, particularly in the Americas and Asia-Pacific.” Beatriz Martin, president of UBS Europe, Middle East and Africa, is also regarded as a potential successor to Ermotti. As part of the rejig, former Credit Suisse CEO Ulrich Koerner will retire from the bank later this year, UBS said.
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