Sergio Ermotti becomes head of UBS again

Er is back. Sergio Ermotti takes over as CEO of the major bank UBS. The 62-year-old Swiss is supposed to successfully lead the forced marriage that started a week and a half ago with his fallen rival Credit Suisse (CS). And as Ermotti sat on the podium in the large UBS auditorium on Wednesday morning to explain this latest bang on the Swiss financial center to journalists, you got the feeling as if he had never been away: in a perfectly fitting blue suit, red tie and his face, as always, tanned, it seemed almost natural to see him again on the well-known UBS stage.

Of course, the Ticino was never completely gone anyway. After his not entirely voluntary departure from UBS, which he had managed from 2011 to 2020, Ermotti hired as chairman of the board of reinsurers Swiss Re. That’s not a bad job either, but of course it can’t be compared to the enormous task that Ermotti now has in front of his chest – a task that he says he also takes on out of a sense of duty.