UBS Appoints Sergio Ermotti As New Group CEO, Effective April 5

Swiss banking giant UBS Group AG (UBS) announced Wednesday the appointment of Sergio Ermotti as new Group Chief Executive Officer and President, effective April 5, after the Annual General Meeting.

The appointment follows UBS's recent acquisition of Credit Suisse.

Ermotti will succeed Ralph Hamers, who has agreed to step down to serve the interests of the new combination, the Swiss financial sector and the country. Hamers will remain at UBS and work alongside Ermotti as an advisor during a transition period

The company said the Board took the decision in light of the new challenges and priorities facing UBS after the announcement of the acquisition.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16.. The U.S. Consumer Product Safety Commission or CPSC, along with Golden, Colorado-based Boppy Co., urged consumers to stop using recalled Boppy Newborn Loungers, following reports of more infant deaths. They also asked online marketplaces to stop selling the recalled product. The company in September 2021 had recalled over 3.3 million infant lounging pillows after it was connected with deaths of 8 Apple has unveiled a bunch of new products for its customers including its first spatial computer Vision Pro Headset. The tech major has also introduced iOS 17, 15-inch MacBook Air, iPadOS 17, TvOS 17 For Apple TV, WatchOS 10 For Apple Watch, New Mac Studio, Mac Pro, and M2 Ultra, among others. The Apple Vision Pro features visionOS, the world's first spatial operating system.
Follow RTT