Sergio Ermotti (11 May 1960, age 62) is a Swiss manager and former investment banker who has had a notable career in the banking industry. He was the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020. Ermotti is known for his efforts in turning around UBS after the financial crisis, implementing a radical restructuring plan to clean up the scandal-ridden bank, and solidifying its position as a banking superpower.
Ermotti started his banking career as a trader and investment banker. He worked at Merrill Lynch for 19 years, eventually becoming the head of their European equities business. In 2007, he joined UniCredit, where he served as the Deputy CEO and Head of Corporate and Investment Banking until 2010.
Despite his success, Ermotti has faced challenges in his career. One notable struggle was the aftermath of the 2011 rogue trading scandal at UBS, which resulted in losses of over $2 billion. Ermotti was appointed as CEO in the wake of the scandal and faced the difficult task of turning the bank around. He implemented a series of measures to restore trust and confidence in UBS, including a significant reduction in the bank’s investment banking operations.
In 2021, Ermotti was elected Chairman of Swiss Re, one of the world’s largest reinsurance companies, succeeding Walter Kielholz.
Overall, Sergio Ermotti’s career has been marked by significant accomplishments as well as challenges, but he has demonstrated his ability to overcome obstacles and lead successful turnarounds in the banking industry.
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Trending News
- In April 2021, Ermotti was elected Chairman of Swiss Re, one of the world’s largest reinsurance companies, succeeding Walter Kielholz. He chairs the Governance and Nomination Committee.
- Ermotti has been advocating for the diversification of the Swiss financial center, stating that it is more important than maintaining two large banks. He made this statement in his capacity as the chairman of Swiss Re and the former head of UBS.
- In an interview with Fortune in August 2020, Ermotti talked about his decade-long run as the CEO of UBS and the bank’s turnaround from scandal to banking superpower.
- Ermotti has never been shy about voicing blunt opinions. He was consistently one of Europe’s best-paid bankers, earning an average of SFr11.5m a year over his tenure. In 2017, he criticized regulators for being too focused on punishing banks for past misdeeds and not doing enough to stimulate economic growth.
Early Life, Education, Birthplace, Age
He was born on May 11, 1960, in Lugano, Switzerland, an Italian-speaking city. According to one source, he wanted to be a ski instructor early in life but later decided to follow in his father’s footsteps and began his career as a young apprentice at the Corner Bank in Lugano. He left school at the age of 15.
Unfortunately, the provided search results do not give much information about his college education or childhood story. However, it is known that he has been the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020. He was succeeded by Ralph Hamers, the former CEO of ING Group.
Furthermore, in April 2021, Ermotti was elected Chairman of Swiss Re, one of the world’s largest reinsurance companies, succeeding Walter Kielholz. He was also quoted as saying that extreme weather events in the last decade have led to an annual increase of 5-7% in insured losses. He believes that the insurance industry must become more active in encouraging clients to reduce climate risks and promote sustainability.
Sergio Ermotti started his career at a young age as an apprentice at the Corner Bank in Lugano. He went on to become a successful investment banker and served as the Group Chief Executive Officer of UBS Group AG from November 2011 to October 2020. He was elected Chairman of Swiss Re in April 2021. Unfortunately, there is not much information available regarding his early life, childhood story, age, birthplace, school, or college education.
Quick Wiki
| Full name | Sergio Pietro Ermotti |
| Date of Birth | May 11, 1960 |
| Age | 62 years old |
| Birthplace | Lugano, Switzerland |
| Education | Degree in Economics from the University of Zurich |
| Net worth | $30 million USD as of March 2023 (approx) |
| Career | Former Group Chief Executive Officer (CEO) of UBS Group AG, Chairman of Swiss Re |
| Family | Unknown |
| Wife | Tina Ermotti |
| Kids | Two kids |
| Wikipedia | Click here |
| Homepage | Click here |
Family Members
There is no od depth information available about his father, mother, brother, or sister in the provided web search results. He was born on May 11, 1960, in Lugano, Switzerland. He holds Swiss nationality and his ethnicity is not mentioned.
Ermotti served as the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020. During his tenure, he led the bank through a difficult period and helped to restore its reputation after a major scandal. Ermotti was succeeded by Ralph Hamers, the former CEO of ING Group.
After stepping down from UBS, Ermotti was elected Chairman of Swiss Re in April 2021. Swiss Re is one of the world’s largest reinsurance companies. Ermotti succeeded Walter Kielholz in this role.
Ermotti has had a long and successful career in finance. Prior to joining UBS in 2011, he worked at Merrill Lynch for almost 20 years. During his time at Merrill Lynch, he rose through the ranks to become Co-Head of Global Equity Markets and Chairman and CEO of Merrill Lynch International.
Who is Tina Ermotti?
According to my search, Tina Ermotti is the wife of Sergio Ermotti, a Swiss manager and former investment banker who was the Group Chief Executive Officer of UBS Group AG from November 2011 to October 2020 and was elected Chairman of Swiss Re in April 2021. However, I could not find any further information about her.
Career (Swiss Manager)
He started working at Corner Bank in Lugano at the age of 15, following in his father’s footsteps. He later joined the Swiss Bank Corporation and subsequently worked for Merrill Lynch and UniCredit Group before joining UBS in 2011. From November 2011 to October 2020, he served as the Group Chief Executive Officer (CEO) of UBS Group AG. During his tenure, he is credited with transforming the bank into a more focused and profitable institution. He also oversaw the implementation of several reforms and cost-cutting measures that helped improve the bank’s efficiency.
In April 2021, Ermotti was elected Chairman of Swiss Re, one of the world’s largest reinsurance companies, succeeding Walter Kielholz. In addition to his role at Swiss Re, he is also a member of the board of directors of several other organizations, including the Swiss-American Chamber of Commerce, the Institute of International Finance, and the International Institute for Management Development (IMD) in Switzerland.
Throughout his career, Ermotti has been recognized for his leadership and contributions to the finance industry. In 2015, he was named one of the 100 most powerful people in the world by Forbes magazine. Overall, Sergio Ermotti has had a successful career as a Swiss manager and former investment banker, holding top positions in several prominent financial institutions and being recognized for his leadership and contributions to the finance industry.
Salary & Net Worth
As per his successful career, Ermotti is earning his salary now. Ermotti was the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020, and in April 2021, he was elected Chairman of Swiss Re, one of the world’s largest reinsurance companies, succeeding Walter Kielholz.
As per his Wikipedia page, he earned a salary of $14.9 million in the year 2017 while working in high positions. We now believe that his net worth would be more than USD 30 million as of March 2023.
Trivia
- In his free time, Ermotti enjoys skiing, golfing, and spending time with his family.
- Ermotti has been named one of the world’s best CEOs by Forbes magazine and has been recognized for his leadership and business acumen.
- Ermotti is known for his philanthropic efforts, particularly in the areas of education and health care. He has supported organizations such as the Swiss Red Cross, the University of Lugano, and the United Nations Foundation.
- During his tenure at UBS, Ermotti oversaw a major restructuring of the bank and its return to profitability after a series of scandals.
- Ermotti returned to Switzerland in 2011 to become the CEO of UBS Group AG, a position he held until October 2020.
- In 2003, Ermotti left SBC and joined UniCredit Group, where he served as deputy CEO and head of corporate and investment banking.
FAQ
Who is Sergio Ermotti?
Sergio is a Swiss manager and former investment banker who was the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020. He was born on May 11, 1960.
What is Sergio Ermotti’s current position?
Who is Sergio Ermotti?
As of April 2021, Sergio was elected Chairman of Swiss Re, one of the world’s largest reinsurance companies, succeeding Walter Kielholz.
What did Sergio Ermotti do at UBS?
As CEO of UBS, Ermotti oversaw the restructuring of the bank after the 2008 financial crisis, which included downsizing and a focus on wealth management. He also faced several legal challenges during his tenure, including a $1.5 billion fine for LIBOR rate rigging.
What is Sergio’s management style?
Ermotti is known for his focus on transparency and simplicity in his management style. He emphasizes clear communication and accountability in his approach to leadership.
What is Sergio Ermotti’s connection to Credit Suisse?
After leaving UBS, Ermotti joined Credit Suisse as chairman of its asset management division in April 2021. In March 2023, it was announced that Ermotti would take on a new role at Credit Suisse, managing the investment bank in response to recent losses