Who takes over the reins at UBS?

Inevitable, but not imminent: The following applies for the change at the top of UBS, both for the succession of CEO Sergio Ermotti as Chairman of the Board, Axel Weber.

"The CEO and I are in the eighth year at the Bank," said Weber on Monday, the TV channel Bloomberg. "It is time to think about what to do and how to get to the Bank to the successor wants to pass." He was speaking deliberately in the Plural, Weber said, but stressed that nothing was imminent: "The discussions are at a very early stage."

the trigger for the follow-up discussions was the departure of Andrea Orcel, is reported by a Person who is in regular contact with the UBS guide. The disposal of the chief of the UBS investment Bank have led the Board of Directors how drastically thin the Pipeline of internal successors. Orcel has long been regarded as a Kronfavorit, and he had to compete with the Ambition, once the successor Ermotti. However, in the fall of the investment Bank's chief has left UBS, surprisingly, to be the CEO of the Spanish Bank Santander – a Wake-up call for Ermotti and the nomination Committee of the Board of Directors.

The UBS Board of Directors has increased its activities in order to find a successor for him: UBS CEO Sergio Ermotti. Photo: Reuters

In the new year's week in the media about the succession of Ermotti and Weber speculated. Bloomberg reported that the UBS Board of Directors had increased the activities to find a successor Sergio Ermotti. In this case, the conversation with potential external candidates had been sought, in particular with Christian Meissner. The Austrian is ten years younger than Ermotti and had given up before Christmas, his Job as head of the investment Bank of Bank of America.

people who are familiar with Meissner personally, as well as voices from within the UBS doubt in an interview with the newspaper "Finance and economy", the Investment bankers and M&A Advisor is the right man for the CEO-would be the Items of the UBS: The future of UBS in the wealth management. In this area, UBS is the global market leader. In investment banking, it offers also a comprehensive range of services, in this business, but international miles behind the US big banks.

Wanted: an Investment Banker

Two Investment bankers from outside the UBS in the double guide, the UBS after the departure of Orcel in the Investment Bank installed a weak point. You suspect that the alleged contact to Meissner needs to be seen in this context: to find a new strong man for the investment Bank. Conversations with other persons suggest, however, that Meissner is not at all to join UBS as neither the CEO nor the head for the investment Bank. To possible contact with Meissner did not want to Express a UBS spokesman.

He wants to stay until 2022 in the office: UBS Chairman Axel Weber. Photo: Reuters

the Unanimous opinion of the interlocutor of the "Finance and economy", however, is that the detachment of CEO Ermotti – even if you don't, which is imminent – is expected to take place before the resignation of the Board of Directors President Weber. Weber, the Ambition has to stay until 2022 in the office. And, no doubt, wants to (and he should) until then, the succession of the operational leadership of the UBS.

Whether the existing staff of UBS is good for that, is doubtful: The two Co-presidents of asset management, Tom Naratil, and Martin Blessing, which ambitions to be said on the Post, are almost as old as Ermotti. The strong woman of the UBS, COO Sabine Keller-Busse, there is no front experience.

It may be necessary to hand over the investment Bank in new hands, to a single Person, the control of this business. So the game room would be created to fill the CEO post. This would make it possible to determine, instead of a Caretaker CEO who can concentrate fully on asset management. It forms the core of the UBS strategy, and the future of the Bank is located.

(financial and economic)

Created: 10.01.2019, 15:41 PM