UBS names outsider Ralph Hamer to replace Sergio Ermotti
New CEO Hamers, whose appointment surprised investors, is best known in the Netherlands for a money-laundering scandal
20 February 2020 - 18:58
Zurich/Amsterdam — By naming ING Groep’s Ralph Hamers as its next CEO, UBS Group turned to an outsider with a record of pushing digital banking but who has been vilified in the Netherlands over a money-laundering scandal.
The choice of Hamers to succeed Sergio Ermotti surprised analysts, investors and even insiders because of his limited experience in wealth management and investment banking, UBS’s core businesses. Shares in both UBS and ING rose...
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