In addition, UBS is already facing significant political pressure due to its large size and importance for the country. 'UBS's priorities have clearly changed, with the integration of CS being the most important task. 'We welcome the appointment of Sergio Ermotti and believe that he is right person for the challenging task, given his experience of successfully transforming UBS after the Global Financial Crisis. 'The new CEO will have the immediate challenges of cutting staff, reducing Credit Suisse's investment bank, finding other synergies between the two lenders and convincing shareholders about the prospects for the arranged marriage.'ĪNDREAS VENDITTI, HEAD OF BANKS RESEARCH, BANK VONTOBEL He also helped UBS to navigate through the onset of the pandemic and the corresponding market volatility during most of 2020.

'Having steered UBS through the aftermath of the 2008 GFC and a rogue-trading scandal, Ermotti is a dab hand at crisis management. VICTORIA SCHOLAR, HEAD OF INVESTMENT, INTERACTIVE INVESTOR, LONDON 'Sergio was in the trenches during and post the global financial crisis when UBS was in a lot of trouble. He's the guy you want to right the ship as the executive and then become the chairperson for the longer term. He is the Tom Brady of Swiss banking, or European banking. 'Without a doubt, he is the right person for the job.

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