UBS Group’s Ermotti says board considering external CEO candidates

Investing.com -- UBS Group AG is evaluating both internal and external candidates to succeed CEO Sergio Ermotti when he steps down at the end of 2026 or early 2027.

"My job is to prepare and to present to the board as many candidates possible internally and the role of the board is to also evaluate external candidates and find the best solution for the future," Ermotti said Tuesday in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland.

The Swiss banking giant’s internal candidates include Aleksandar Ivanovic, who leads the firm’s asset management unit, wealth management co-heads Iqbal Khan and Robert Karofsky, and Chief Operating Officer Beatriz Martin.

UBS Chairman Colm Kelleher has previously suggested Ermotti might take over as chairman after a required cooling-off period. When asked about this possibility, Ermotti avoided direct comment, saying only that he remains "very focused on finishing his job."

Ermotti returned to UBS for a second stint as CEO in 2023 to oversee the integration of Credit Suisse following UBS’s acquisition of its former rival.

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