Factbox-5 details about returning UBS CEO Sergio Ermotti



LONDON (Reuters) – Sergio Ermotti has been rehired because the CEO of Swiss banking big UBS to steer its huge takeover of rival Credit score Suisse.

Listed here are 5 details concerning the 62-year-old banker.

* Swiss nationwide Ermotti started his profession as an apprentice at Nook Financial institution, earlier than getting his first massive break in 1987 with a job at Merril Lynch, the place he opened their Swiss capital markets operation from scratch.

* Described as suave, charismatic and impeccably dressed, Ermotti, who hails from Switzerland’s Italian-speaking canton of Ticino, had thought of turning into a skier or a footballer however determined to remain in banking.

* He joined UBS in 2011 after being handed over for the highest job at Italian lender UniCredit. Inside six months of becoming a member of he was appointed interim CEO within the wake of a $2.3 billion buying and selling scandal, earlier than he was picked to run UBS on a everlasting foundation till 2020.

* Ermotti, with lengthy expertise in funding banking and wealth administration, is credited with executing UBS’s turnaround and cutting down its funding banking operations after a collection of scandals and losses practically induced the financial institution’s implosion.

* A self-described “lazy reader”, he has stated he prefers snowboarding down the Swiss slopes of St. Moritz and that he can watch the identical movie again and again, citing “The Sting” as his favorite.

(Reporting by Tommy Reggiori Wilkes; Enhancing by Toby Chopra)