UBS appoints Ermotti as new CEO

Swiss bank UBS has named Sergio Ermotti as its permanent new chief executive, replacing Oswald Gruebel who resigned following the bank's unauthorised trading scandal that cost it $2.3 billion.

15th November, 2011
UBS appoints Ermotti as new CEO
File picture of Sergio Ermotti

Swiss bank UBS has named Sergio Ermotti as its permanent new chief executive, replacing Oswald Gruebel who resigned following the bank's unauthorised trading scandal that cost it $2.3 billion.

Ermotti is due to announce a reorganisation of the bank on November 17th.

He has been acting as interim CEO for two months.

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