UBS Ermotti

UBS solves leadership puzzle

Sergio Ermotti is formally anointed group CEO of UBS, while Axel Weber's appointment to chairman of the board is accelerated.
Kaspar Villiger left and Sergio Ermotti announce UBS's leadership changes at a press conference yesterday AFP

UBS yesterday confirmed Sergio Ermotti as its group chief executive officer and announced that Axel Weber would succeed Kaspar Villiger as chairman of the board in 2012.

Ermotti’s appointment seals a position he has held since he was appointed interim group CEO of UBS in late September when Oswald Gruebel tendered his resignation in the aftermath of the $2.3 billion loss by a rogue trader. At the time of his interim appointment UBS had said it would complete a comprehensive evaluation process that would take up...

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