Jan 13 (Reuters) – UBS Group's veteran CEO Sergio Ermotti, who helped the lender navigate the takeover and integration of former rival Credit Suisse, is planning to step down in April 2027, the Financial Times reported on Tuesday. Ermotti headed UBS from 2011 to 2020 and was rehired as CEO in 2023 to steer its massive takeover of Credit Suisse to take advantage of the Swiss banker's experience of rebuilding the bank after the global financial crisis. In 2024, he pledged to lead UBS "at the very least" until the Credit Suisse integration was finished at the end of 2026 or early 2027. UBS currently aims to "substantially" finish the integration by end-2026. The bank declined to comment on the Financial Times report. The lender's shares have surged nearly 30% in the past year, and have more than doubled in value since the eve of its purchase of the collapsed Credit Suisse. Aleksandar Ivanovic, UBS' asset management chief, has emerged as one of the executives most likely to succeed Ermotti, the Financial Times reported, citing sources. Other UBS figures said by insiders to be in contention for the CEO job include the bank's Americas president Robert Karofsky and Asia Pacific boss Iqbal Khan, Reuters has reported previously. Bea Martin, who was named the bank's chief operating officer in October, has also been floated as a contender. The report comes at a time when UBS is trying to fight the Swiss government's proposals to strengthen banking rules. Ermotti said late last year that UBS aimed to keep operating out of Switzerland, but also said capital proposals by the Swiss government were not acceptable to the bank. (Reporting by Shubham Kalia in Bengaluru and Ariane Luthi in Zurich, Editing by Mrigank Dhaniwala and Jamie Freed)
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