Sergio Ermotti, the chief executive officer of UBS, confirmed on Tuesday that he will continue to lead the Swiss bank through at least April 2027, and he did not rule out staying on beyond that timeframe.
Addressing attendees at an event hosted by the International Center for Monetary and Banking Studies in Geneva, Ermotti said his immediate objective is to see UBS through the remaining stages of integrating Credit Suisse, the rival bank UBS acquired in 2023. He also highlighted the need to guide the institution through changes in regulation that authorities are preparing.
"I will stay at least until next year in April and then we will take it from there," Ermotti told the audience.
On the question of succession, Ermotti expressed a clear preference for promoting from within UBS. He said the bank already has strong internal candidates and that the eventual selection will depend on the needs of the bank at the time the appointment is required.
"And then when the day comes, it’s going to be a matter of choosing the person based on the current needs of the bank," he said.
Ermotti, 65 years old, previously served as UBS CEO from 2011 to 2020. He was brought back to the role in 2023 in order to steer the bank through the incorporation of Credit Suisse after UBS acquired the troubled rival.
The remarks underline a continuity strategy at the bank's top level while the extensive operational and regulatory work related to the Credit Suisse deal continues. Ermotti's comments also make clear that UBS is planning for a successor but is prioritizing internal options and timing the appointment to match the institution's evolving requirements.