UBS CEO Sergio Ermotti has expressed hope that his successor will come from within the bank, he told Swiss newspaper Tages-Anzeiger in an interview published Thursday.
“I hope so,” Ermotti said when asked if his next CEO would be an internal candidate.
Ermotti, who managed UBS’s emergency acquisition of Credit Suisse in 2023, is expected to step down by mid-2027, although the exact timeline is not finalized, according to sources familiar with the matter.
“It’s always good to bring in new talent from outside,” Ermotti added.
“However, in order to maintain the right culture, a certain degree of continuity is absolutely crucial.”
He said UBS is carefully assembling a shortlist of potential leaders, emphasizing the importance of both professional expertise and personal integrity.
Executives widely viewed as potential successors include asset management chief Aleksandar Ivanovic, COO Bea Martin, Americas president Robert Karofsky, and Asia Pacific head Iqbal Khan.
“As previously communicated, I will complete the integration of Credit Suisse and remain CEO until at least the end of 2026 or spring 2027,” Ermotti told the newspaper.
The integration of Credit Suisse will see UBS cut roughly 3,000 jobs in Switzerland, a figure that had been publicized in 2023.
Most of these reductions will occur through natural turnover, early retirements, and similar measures.
Ermotti stressed that the bank aims to minimize the social impact of these cuts while continuing to integrate the acquired operations smoothly.