ING's Ralph Hamers appointed CEO of UBS
"Ralph is the right CEO to lead our business into its next chapter." UBS Group's chairman Axel Weber praised the financial industry background of Ralph Hamers, currently CEO of ING Group, who has been appointed as next CEO and president of the executive board of UBS.
He will take up his new duties in Zurich on 1 November 2020 and replace Sergio Ermotti who held the role for almost nine years.
“Sergio led the transformation of UBS in the wake of the global financial crisis (...) During Sergio’s tenure, UBS created substantial value for our shareholders, as tangible book value including dividend distribution has grown at 6% annually and shareholders have received over $15bn dividends and $1.5bn in share-buybacks,” Weber said.
Hamers joined ING Group in 1991 and served in different positions. He is also chairing the European Banking Group, which is the European banking association.