Ralph Hamers, CEO UBS, steps down early
29-03-2023 UBS has announced that Ralph Hamers will step down next month as Chief Executive Officer of the Swiss bank.
His resignation follows the takeover of ailing bank Credit Suisse earlier this month, in which Ralph Hamers played a key role. He will be succeeded by the former CEO of the same bank, Sergio Ermotti. Ralph Hamers will stay on as an adviser during the transition period.
The bank said that Ralph Hamers has agreed to leave to serve the interests of the new combination, the Swiss financial sector and the country. This relates to the acquisition of Credit Suisse and the new priorities to be led by Sergio Ermotti.
Ralph Hamers has been CEO of UBS since 2020. He was previously CEO of ING (from 2013 to 2020) and came under fire for a proposed salary increase and a money laundering affair. Hamers says he regrets having to leave UBS, but that "circumstances have changed in ways no one expected." It is currently unknown what Ralph Hamers will do after leaving UBS.