1 Refer to the “Performance of our business divisions and Group Functions” table for a list of items called out due to their one-off nature within the context of the quarter, which have been excluded to show the “adjusted” results referred to in this document. [27] His favorite movies are George Roy Hill's The Sting and Ken Kesey's One Flew Over the Cuckoo's Nest. The products, services, information and/or materials contained within these web pages may not be available for residents of certain jurisdictions. [4] He ruled out entering select political races for the Bundesrat stating that he was "not a politician". All rights reserved. [11][12], He joined the Italian bank UniCredit headquartered in Milan, in December 2005 as head of markets & investment banking. UBS Group CEO comments on our results for the third quarter of 2020. In 2012, he tapped a colleague from Merrill Lynch, Andrea Orcel, to lead UBS's investment banking arm, eventually assisting him in navigating the 2013 Libor trading scandal, a major corporate restructuring, and a major expansion of mergers and acquisitions (M&A) activity. [33], "How UBS Became Home to Half the World's Billionaires", "Swiss Re Picks UBS CEO Ermotti as Next Chairman", "UBS CEO rules out filling vacancy in Swiss cabinet", "An audience with Sergio Ermotti: Tutto bene? [20][21] In November 2014, he became the CEO for UBS Group AG permanently. The clouds of uncertainty over the Tesla Model Y's specs and dimensions have finally cleared up now that the automaker has started deliveries of the Model Y midsize electric SUV (last Friday). [6], Ermotti was challenged by Marc Walder, CEO of Swiss media company Ringier and Gianluigi Bianchi, managing partner for Europe of Wealth-X to undertake the ALS Ice Bucket Challenge. 1 Loans and advances to customers (on-balance sheet) and guarantees and loan commitments (off-balance sheet) included within Banking products in the table “Banking and traded products exposure in our business divisions and Group Functions” in the Risk management and control section of the fourth quarter 2020 report. Omar Ishrak, chairman of Intel and former chairman and CEO of Medtronic, joined "Squawk Box" on Friday to discuss his SPAC and his aspiration in the health-care tech sector. Although Ermotti did not attend university,[6] he received a Swiss federal banking expert diploma and subsequently attended the Advanced Management Program at Oxford University. Milan. © UBS 1998 - 2021. The most up-to-date breaking news for the New York Islanders including highlights, roster, schedule, scores and archives. 3 Going concern leverage ratio under Swiss SRB rules. HBO Max Launches on Cox’s X1-based Contour Platform App is now native on cable operator’s white-label video OS, three months after deploying on Comcast X1 set-tops. 1 Return on CET1 capital is calculated as net profit attributable to shareholders divided by average common equity tier 1 capital. You can find more information under the Privacy Statement. He was the chief executive officer (CEO) of UBS Group AG between November 2011 and November 2020. watch now. 2 Return on CET1 capital is calculated as annualized net profit attributable to shareholders divided by average common equity tier 1 capital. Videogames are a bigger industry than movies and North American sports combined, thanks to the pandemic Last Updated: Jan. 2, 2021 at 10:27 a.m. Leading UBS, Ermotti denounced the 2011 rogue trader scandal, implementing strict corporate policies governing community standards and initiated a major restructuring of the bank around private banking and limited its sell side operations. UBS est une société de services financiers dont les sièges sont à Zurich et à Bâle, en Suisse.C'est la plus grande banque de gestion de fortune dans le monde [5] avec des actifs financiers investis de 3 607 milliards de francs suisses en 2019. UBS Group CEO comments on our results for the second quarter of 2020. UBS Group AG will restart buying back its shares and announced a new buyback program of up to $4.5 billion, after the bank closed 2020 with a … [8] In 1987, he went on to the Swiss office of the US investment bank Merrill Lynch in Zurich,[9] and stayed with the bank for 16 years. Dividends paid out of capital contribution reserves are not subject to Swiss withholding tax. ", "Ermotti to play swiss card in UBS CEO contest", "Santander poaches new CEO from UBS — former head of investment banking Andrea Orcel", "Andrea Orcel rules out big M&A at Santander", "UBS CEO Ermotti's pay rises to $14.92 million", "UBS names ING's Ralph Hamers as next chief executive", "Swiss Re lines up UBS CEO Ermotti to become chairman in 2021", "Is UBS Grooming This "Impeccably Dressed" Man To Be CEO? He previously served as the deputy chief executive for Italian bank UniCredit, from 2007 to 2010. The ex-dividend date will be 13 April 2021. 2020 net profit of USD 6.6bn, 17.6% return on CET1 capital, 3Q20 net profit USD 2.1bn, 21.9% return on CET1 capital, UBS E-banking and online services Switzerland, Earnings call remarks including analyst Q&A, Select Swiss franc disclosures for Pillar 3 regulatory information, Holding company, subsidiaries and sub-groups, Net profit USD 2.1bn, +99% YoY; return on CET1 capital, CET1 capital ratio 13.5% and CET1 leverage ratio, UBS’s Board of Directors proposes the second tranche of 2019 dividend of USD 0.365 per share to be paid in November 2020, UBS makes sustainable investments its preferred solution for clients of its USD 2.8trn Global Wealth Management business, 2Q20 PBT USD 1.6bn, (10%) YoY or +5% excluding CLE, 2Q20 net profit (11%) YoY; return on CET1 capital, 1H20 PBT USD 3.6bn, +9% YoY or +24% excluding CLE, 1H20 net profit USD 2.8bn, +12% YoY; return on CET1 capital, Strong capital position with CET1 capital ratio 13.3%; CET1 leverage ratio, PBT USD 2.0bn, +30% YoY and net profit +40% YoY; return on CET1 capital, Strong capital position with CET1 capital ratio 12.8%; CET1 leverage ratio, In highly volatile and uncertain markets, UBS remained a reliable partner to its clients, extending credit well beyond government-sponsored programs, UBS demonstrated strong front-to-back operational resilience, facilitating uninterrupted connectivity with a substantial increase in volumes and client interactions, UBS is fully committed to playing its part in mitigating the effects of the COVID-19 crisis; supporting employees, clients and communities. 3 Going concern leverage ratio under Swiss SRB rules. [8] Three years later, in 1996, Ermotti relocated to New York, as a head of global derivatives trading. [23], In February 2020 UBS announced that Ralph Hamers CEO of ING Group would be succeeding Sergio Ermotti as CEO on 1 November. [7], After his apprenticeship as a stockbroker at the Cornèr Bank, Ermotti was later promoted to trading. ET First Published: Dec. 22, 2020 at … [14] From 2007, he was UniCredit's deputy chief executive officer with responsibility for the strategic business area, corporate and investment banking and private banking,[15] before leaving in 2010. Shareholders holding shares through DTC (ISIN: CH0244767585; CUSIP: H42097107) will be paid dividends in US dollars. 2 Excluding the effects of the temporary exemption of central bank sight deposits for the going concern leverage ratio calculation granted by the Swiss Financial Market Supervisory Authority (FINMA) on 25 March 2020 in connection with COVID-19. [1] At his apprenticeship, he learned to sell and trade stocks. This website uses cookies to make sure you get the best experience on our website. 1 Return on CET1 capital is calculated as annualized net profit attributable to shareholders divided by average common equity tier 1 capital. UBS Group CEO comments on our results for the fourth quarter of 2020. 3 Excluding the effects of the temporary exemption of central bank sight deposits for the going concern leverage ratio calculation granted by the Swiss Financial Market Supervisory Authority (FINMA) on 25 March 2020 in connection with COVID-19. 3 Shareholders whose shares are held through SIX (ISIN CH0244767585) will receive dividends in Swiss francs, based on a published exchange rate calculated to five decimal places immediately before the ex-dividend date. ", "Interview de Sergio Ermotti, CEO ad interim d'UBS: "Notre stratégie c'est d'être la plus grande et la meilleure banque de gestion de fortune au monde" - Vidéo - Play RTS", "UBS's 'Mr Cool' takes the Ice Bucket Challenge - Video", https://en.wikipedia.org/w/index.php?title=Sergio_Ermotti&oldid=994373064, Bank presidents and chief executive officers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 15 December 2020, at 11:22. 2 Return on CET1 capital is calculated as annualized net profit attributable to shareholders divided by average common equity tier 1 capital. In accordance with Swiss tax law, 50% of the dividend will be paid out of retained earnings and the balance will be paid out of capital contribution reserves. Ermotti is slated to succeed Walter Kielholz as the incoming chairman of Swiss Re, Switzerland's largest reinsurance company, in 2021. [22] His salary in fiscal year 2017 was estimated to be US$14.9 million. Die Anzahl der vom Konzern beschäftigten Mitarbeiter belief sich am Ende des Jahres 2018 weltweit auf 66'888 davon etwa 31 % in Nord- und Lateinamerika, 32 % in der … 4 Subject to approval by shareholders at the Annual General Meeting scheduled for 8 April 2021, the dividend will be paid on 15 April 2021 to shareholders of record as of 14 April 2021. He previously served as the deputy chief … Famed Anchorman Roger Mudd Dead at 93 Filled in for Cronkite, co-anchored ‘Nightly News’, hosted ‘Meet the Press’ Sergio Pietro Ermotti (born 11 May 1960) is a Swiss investment banker and former stock trader.He was the chief executive officer (CEO) of UBS Group AG between November 2011 and November 2020. 2 Excluding the effects of the temporary exemption of central bank sight deposits for going concern leverage ratio calculation granted by the Swiss Financial Market Supervisory Authority (FINMA) on 25 March 2020 in connection with COVID-19. You are free to change your cookies' settings in the privacy settings. How UBS’s innovative hub helped 60,000 work remotely with virtually no downtime during the pandemic – interview with Nej Adamian, head of digital engineering, UBS Group Technology.. Last year, 95% of your organisation started working from home, almost overnight, due to … UBS intends to repurchase up to USD 1.1bn of shares in 1Q21. [24][25] Swiss Re, Switzerland's largest reinsurance company, announced its intention to onboard Ermotti as its next chairman in 2021 succeeding Walter Kielholz. Action1 Corporation, a Cloud-based endpoint security and RMM solution provider, announced the growth of its year-over-year annual recurring revenue (ARR) at a record 2,756% for 2020… A teardown of Volkswagen AG’s first dedicated electric vehicle found it measures up favorably to Tesla Inc. models in several key aspects. It has been speculated that he might transition into Swiss politics after his career in banking.