UBS Also Considering External CEO Candidates, Ermotti Says

(Bloomberg) — The board of directors of UBS Group AG is considering potential external candidates to take over the chief executive role next year alongside a roster of internal names, according to current boss Sergio Ermotti.

“My job is to prepare and to present to the board as many candidates possible internally and the role of the board is to also evaluate external candidates and find the best solution for the future,” Ermotti said in a Bloomberg Television interview at the World Economic Forum in Davos, Switzerland.

The Swiss lender is currently in the process of identifying its post-Ermotti leadership, who has guided that he will step down at the end of 2026 or early 2027. Possible names include Aleksandar Ivanovic, who leads the Swiss firm’s asset management unit, wealth management co-heads Iqbal Khan and Robert Karofsky, and Chief Operating Officer Beatriz Martin.

Chairman Colm Kelleher has floated the idea of Ermotti taking over from him at some point, though this would require a cooling-off period. Asked if he might be interested in the role of chairman, Ermotti said that right now he was very focused on finishing his job, without commenting further.

Ermotti returned for a second stint in charge of UBS in 2023, to lead the firm through the integration of its former rival Credit Suisse.

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