Sergio Ermotti took over as head of UBS on Wednesday following the general meeting, replacing Ralph Hamers. He had been called up by the bank’s board and surprisingly appointed chief executive a week ago.
Although it is too early to speculate on the face of the merged bank, the 63-year-old from Ticino assures in the letter mentioned by Archyde.com that all employees, both Credit Suisse and UBS, will be treated correctly.
Sergio Ermotti also told Credit Suisse staff that it was “essential” to stay focused on clients and keep the business operational.
>> Read also:
The work that awaits Sergio Ermotti at the head of the new UBS
It is premature to talk regarding employment
During the general meeting of the bank with three keys on Wednesday, vice-president Lukas Gähwiler said that it was premature to talk regarding jobs. Initially, it is necessary to continue the operation of the two banks and the integration will take place over the next few years. The task is herculean and will in the short term require more than less people.
In the medium term, it is clear that the various options will have to be considered and, in the long term, there will be synergies, underlined Lukas Gähwiler, who had himself worked at Credit Suisse from 1990 to 2009.
Probably in a few months
Credit Suisse has certainly been stabilized, but the uncertainties surrounding the finalization of the transaction remain high. That’s why we want to close it as quickly as possible.
In the best case, it will be in a few weeks, but more likely in a few months. It will take a bit of calm for that and many of the proposals on what should be done rather lead to unnecessary uncertainty, said the vice-president.
>> Review the 7:30 p.m. topic on Sergio Ermotti:
reuters/boi
