UBS to announce changes to next management level soon

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UBS to announce changes to next management level soon - CEO

Published Jun 27, 2023 04:20AM ET Updated Jun 27, 2023 04:26AM ET

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UBS to announce changes to next management level soon - CEO

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ZURICH (Reuters) -UBS (SIX:UBSG) will announce further changes to its management as it seeks to integrate Credit Suisse (SIX:CSGN) following the recent takeover of its former rival, the Swiss bank's chief executive said on Tuesday.

UBS announced a raft of management changes shortly after it completed the takeover earlier this month.

"We have also already established the first two lines of responsibility within the bank," Sergio Ermotti told Point Zero Forum in Zurich.

"Within the next 20 days we will announce the third level, so it means around 1,200-1,500 people will have clear responsibilities," he said.

Ermotti said he was confident he will be able to give more details on the integration by the end of the summer. UBS has pushed back its second-quarter results to the end of August.

UBS's CEO has previously said he expects to be able to give additional clarity over the future of Credit Suisse's domestic business by the end of the summer as well.

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Comments (1)

Derick Lim Jun 27, 2023 9:06AM ET

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still a same bunch of crooks

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