Swiss bank UBS has decided to bring back former CEO Sergio Ermotti to guide the takeover of Credit Suisse. He will take over for current chief executive Ralph Hamers.
Hamers took up the job in November 2020 and will remain at UBS during a transition period “to ensure a successful closure of the transaction and a smooth handover,” the bank said in a statement. “Whilst Ralph was capable of doing the job, we felt that Sergio was better suited to navigating these things,” Chairman Colm Kelleher said on a conference call, alluding to the UBS board decision. “I cannot reemphasizePosted by Associated PressThe overdose-reversal drug Narcan is displayed during training for employees of the Public Health Management Corporation , Dec. 4, 2018, in Philadelphia, Pa.
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