UBS Group AG has a new Chief Executive Officer, with the company’s Board of Directors announcing this Thursday that it has appointed Ralph Hamers to the leading role, effective from November 1, 2002.
As part of the appointment, Hamers, who is the current CEO of ING Group, will join the Switzerland-headquartered bank as a member of the Group Executive Board on September 1, 2020, to allow for a smooth transition into the leadership role, the company said in today’s statement.
Hamers to succeed Sergio P. Ermotti
According to UBS, Hamers was selected for the top position after a rigorous selection process, which commenced as early as the beginning of 2019. He will succeed Sergio P. Ermotti, who has been the current Group CEO of the Swiss bank for almost a decade.
Speaking on his new appointment, Hamers said in the statement: “I’m honored by the opportunity to lead this great institution. I have long admired the firm’s transformation under the leadership of Axel and Sergio.”
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“The firm has an outstanding global client franchise across its business divisions, all of which are underpinned by the incredibly strong UBS brand. I’m looking forward to working with the senior management team, the Board of Directors and all of UBS’s employees to further strengthen the franchise and serve UBS’s clients to achieve their goals.”
Hamers first joined ING Group back in 1991. Over the past 29 years, he has held a number of roles before becoming the CEO of the company in 2013. He holds a Master of Science in Business Econometrics and Operations Research from Tilburg University in the Netherlands and is Chairman of the European Banking Group.
“Ralph is the right CEO to lead our business into its next chapter,” added UBS Group AG Board Chairman Axel A. Weber. “A seasoned and well-respected banker with proven expertise in digital transformation, Ralph has an impressive track record leading ING Group for more than six years.
“As the industry undergoes fundamental change, Ralph is the person to lead UBS’s continued transformation and build upon its successful strategy as the world’s largest and only truly global wealth manager and the leading universal bank in Switzerland, enhanced by its investment bank and asset management.”