From NBC Universal: 2024-05-30 03:37:39

UBS is undergoing an executive board shake-up following the takeover of Credit Suisse. A new global wealth management division with co-presidents in Asia-Pacific and the U.S. signals a strategic growth shift. The changes set the stage for a replacement for outgoing CEO Ermotti, expected to step down by early 2027.

George Athanasopoulos, Marco Valla, and Damian Vogel join the executive board of UBS, replacing outgoing members from Credit Suisse. This reshuffle is part of a broader overhaul after UBS’s emergency rescue of Credit Suisse last year. The bank is reportedly considering three internal candidates as successors to CEO Ermotti.

Read more: UBS overhauls wealth management leadership in wider board shake-up