Renewal at the top for Ubs: Sergio Ermotti is the new CEO of the Swiss banking giant, while Alex Weber, former president of the Bundesbank, has been appointed to the presidency. The offices that will be executive from next May, a year ahead of schedule.
This fills the void left by the resignation of the ex-CEO, Oswald Gruebel, who left his post after the scandal of the London trader who caused a $2 billion hole in the Bank's accounts through illegal transactions.
UBS's board has approved the new strategic plan, which will be communicated on Thursday at an investor meeting in New York. “The strategy will be focused on the asset management business and on our position as a universal bank in Switzerland,” Ermotti said in a statement.
