Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Bernanke steps into the spotlight
Bernanke steps into the spotlight - 02:13
The official royal wedding guest list revealed
The official royal wedding guest list revealed - 01:23
Shuttle astronauts arrive at Cape Canaveral
Shuttle astronauts arrive at Cape Canaveral - 01:18
Waiting for Bernanke
Waiting for Bernanke - 01:51
Hospital staff flee border fighting
Hospital staff flee border fighting - 01:10
Thousands at Sai Baba funeral
Thousands at Sai Baba funeral - 01:03
Al Qaeda releases hostage messages
Al Qaeda releases hostage messages - 01:43
Obama calls birth controversy \
Obama calls birth controversy "distracting" - 05:29
Three blasts hit Kirkuk
Three blasts hit Kirkuk - 01:25
Protests intensify in Yemen
Protests intensify in Yemen - 01:24
Border clashes displace thousands
Border clashes displace thousands - 01:50
S&P Credit Rating Warning Helpful - Lister
S&P Credit Rating Warning Helpful - Lister - 00:53

UBS ends speculation over new CEO

Tuesday, November 15, 2011 - 01:03

Nov. 15 - UBS confirms its stand-in CEO Sergio Ermotti will become its permanent chief executive in an attempt to reassure investors following the Swiss bank's $2bln trading scandal. Sonia Legg reports.

▲ Hide Transcript

▶ View Transcript

UBS has made Sergio Ermotti its permanent chief executive. The move was designed to reassure investors following the Swiss bank's $2 billion trading scandal. The 51-year-old was appointed interim CEO last September. He was chosen despite headhunters being appointed to find an alternative. The bank's board also brought forward the start date of former Bundesbank president Axel Weber. He'll become chairman in May a year earlier than planned. Ermotti's appointment ended speculation that Josef Ackerman would follow Weber to UBS. Deutsche Bank's current chief executive is Swiss and one of the world's most prominent financiers. Ackerman has also reportedly dropped his bid to become chairman of Deutsche's supervisory board after failing to win shareholder backing. He'll now quit Deutsche in May after almost a decade in charge. Ermotti's first task at UBS is to present a new strategy to investors on Thursday. He's expected to announce a curb on the investment bank. Sonia Legg, Reuters.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

UBS ends speculation over new CEO

Tuesday, November 15, 2011 - 01:03

Featured Videos

British gaming firm enlists army of players to create Worlds Adrift

British gaming firm enlists army of players to create Worlds Adrift

British game maker Bossa Studios releases Worlds Adrift, an ambitious adventure game designed that has taken three years and the up-front involvement of 50,000 gamers to create
England's innovative way to announce a youthful World Cup squad

England's innovative way to announce a youthful World Cup squad

England's World Cup squad announced by youngsters on viseo
Celebrities show their love (or indifference) for the royal wedding

Celebrities show their love (or indifference) for the royal wedding

Celebrities show their love or disdain for the royal family as Prince Harry and Meghan Markle's wedding approaches
Hemp-made electric scooter riding high in Amsterdam

Hemp-made electric scooter riding high in Amsterdam

A sustainable electric scooter called the Be.e developed by Dutch startup Van.Eko and made with a natural hemp body rolls on to the streets of Amsterdam
After world premiere, could 'Solo' become a franchise?

After world premiere, could 'Solo' become a franchise?

'Solo' cast and crew discuss reactions to the film, rumors of disruption on set and possible sequels the morning after the world premiere