Swiss banking giant UBS AG has decided to search for its next CEO internally following Sergio Ermotti’s tenure.
According to the Financial Times, the bank is evaluating three internal candidates for the role, and the announcement of potential successors is likely to be made at next year’s annual meeting.
While UBS has not publicly commented on the succession plan, sources suggest that Iqbal Khan, the current head of asset management, could be on the shortlist.
Other potential candidates include Robert Karofsky, who heads the investment banking division, Beatriz Martin, overseeing the non-core unit, and Sabine Keller-Busse, in charge of the bank’s Swiss operations.
The decision to focus on internal talent for the top position indicates UBS’s preference for a leader who strongly understands the company’s culture and operations. The bank’s strategy also signals a commitment to continuity and stability in its leadership structure.
As the banking sector continues to grapple with challenges and opportunities, the CEO selection will be crucial for UBS’s future direction.
The selected candidate will be expected to navigate UBS through the evolving financial landscape and maintain its position as a leading global financial institution.
The timeline for Ermotti’s departure is set approximately three years from now, allowing ample time for the transition and ensuring a smooth handover.
The decision to disclose the shortlisted candidates for UBS’s next CEO until the next annual meeting will provide stakeholders with insights into the bank’s future leadership.
Source: investing.com
