UBS Is at Early Stage of CEO Succession Planning, Weber Says

  • Axel Weber declines to comment on Meissner speculation
  • Succession search is ‘not driven by the clock,’ he says
Weber discusses the global economy, policies, the U.S.-China spat, UBS’s businesses and its CEO succession plan.(Source: Bloomberg)
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UBS Group AG is in the early stages of planning the succession of Sergio Ermotti, one of European banking’s longest-serving chief executive officers, according to Chairman Axel Weber.

Ermotti, almost eight years on the job, and Weber himself are at "a point in time where you need to start thinking about what is it that you’re going to do and how you’re going to pass the bank over to your successors,” the chairman told Bloomberg Television in the bank’s first public confirmation that it’s working on replacing the CEO. “We’re at a very early stage of those discussions.’’