UBS Bankers Who Won and Lost in Sergio Ermotti’s Shake-Up
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Sergio Ermotti shook up UBS Group AG today, elevating an outsider that might succeed him as chief executive officer and pushing another potential CEO candidate out of the firm. The Swiss bank also now has women in two of its most senior roles.
Ermotti has been in his post for eight years. In the year since the departure of investment-banking chief Andrea Orcel -- another former CEO candidate -- he’s grappled with a sliding share price, erratic performance at the key wealth business and huge legal fines. Here are some of the prominent winners and losers in his management revamp.