Published: November 16, 2011
Interim leader secures post after rogue trading scandal.
Swiss bank UBS has appointed Sergio Ermotti as its new CEO following the resignation of Oswald Gruebel.
Ermotti has held the post in an interim position since September 24, when Gruebel stepped down in the wake of a rogue trading scandal.
Meanwhile, Axel Weber will succeed Kaspar Villiger as chairman from next year. Weber was to have been nominated as vice-chairman at the bank’s annual general meeting next May, but Villiger has now decided not to stand for re-election.