UBS CEO Sergio Ermotti to step down in April 2027: FT

UBS Group chief executive Sergio Ermotti is planning to step down in April 2027, closing a chapter defined by the emergency takeover and integration of Credit Suisse, the Financial Times reported.

Ermotti, a veteran Swiss banker, was rehired as UBS CEO in 2023 after previously leading the bank from 2011 to 2020. His return was widely seen as a stabilising move as UBS absorbed Credit Suisse following its collapse, one of the most significant banking rescues since the global financial crisis.

In 2024, Ermotti said he would remain in the role “at the very least” until the Credit Suisse integration was completed. UBS has said it aims to substantially finish the integration by the end of 2026, placing Ermotti’s planned departure broadly in line with that timeline. The bank declined to comment on the report.

Market response and succession speculation

UBS shares have risen nearly 30% over the past year and have more than doubled since the eve of the Credit Suisse acquisition, reflecting investor confidence in the bank’s execution of the deal.

Attention has now turned to succession planning. The Financial Times reported that Aleksandar Ivanovic, UBS’s asset management chief, has emerged as one of the leading internal candidates. Other executives seen as potential contenders include Robert Karofsky, president of UBS Americas, and Iqbal Khan, head of Asia Pacific, according to earlier reporting by Reuters. Bea Martin, who was appointed chief operating officer in October, has also been mentioned by insiders as a possible successor.

Regulatory backdrop

Ermotti’s planned exit comes as UBS faces growing scrutiny from Swiss authorities. The bank is pushing back against government proposals to tighten capital and regulatory requirements in the wake of the Credit Suisse collapse.

Late last year, Ermotti said UBS intended to continue operating out of Switzerland but warned that some of the proposed capital measures were not acceptable to the bank, signalling ongoing tension between policymakers and the country’s largest lender.

If confirmed, Ermotti’s departure would mark the end of a period defined by crisis management and consolidation. The next phase for UBS is expected to focus on organic growth, regulatory negotiation and leadership continuity, as the bank transitions from integration to long-term strategy following one of the most consequential deals in European banking history.