August 29, 2019 / 1:32 PM / 5 months ago

UBS's Ermotti says Swiss bank's CEO bench at least three deep - NZZ

FILE PHOTO: Swiss bank UBS CEO Sergio Ermotti addresses a news conference to present the company's results of the first quarter in Zurich May 6, 2014. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - UBS (UBSG.S) has least three candidates from inside the biggest Swiss bank who could eventually step into the CEO role, Chief Executive Sergio Ermotti said in a newspaper interview on Thursday on the heels of a big management reshuffle.

“We have at least three good internal candidates, and if somebody leads our core business as co-chief, it’s pretty clear that this person should have the potential,” Ermotti told the Neue Zuercher Zeitung, adding a change was not imminent. “It’s just going to depend on the needs of the bank at the time of the change.”

Ermotti, who has been CEO since 2011, made the comments after the world’s biggest wealth manager appointed former Credit Suisse (CSGN.S) manager Iqbal Khan to co-lead its flagship wealth management business alongside U.S. counterpart Tom Naratil, as part of a broader shake-up of its executive board.

Reporting by John Miller; Editing by Michael Shields

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