4 things you need to know about Ermotti

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Sergio Ermotti (62) becomes CEO of the new Swiss Super Bank. The Ticino native will return to the top of UBS next week, where he held the executive chair from 2011 to 2020. Who is the man who had to bring the two largest Swiss banks together with the takeover of Credit Suisse (CS) by UBS?

Ermotti is a big football fan. Even as a kid, he stood behind FC Lugano’s goal as a ball collector, scooping up the balls of legends like Otto Luttrop (1930-2017). Back then, Ermotti didn’t want to be a banker. As he said in a 2020 interview with “Schweizer Illustrierte”, his goal was to become a professional football player. He said at the time: “I was already fine. But every football-loving man dreams of a professional career. Isn’t it normal for someone who dreams of being the CEO of a bank at the age of 15? » Ermotti is still a fan and member of youth club FC Collina d’Oro.

Ticino completed a bank apprenticeship. In fact, he wanted to train as a sports teacher at Magglingen BE. “I needed a degree for that. The bank apprenticeship was intended only as a break. But after a few weeks I realized that this is really interesting in a bank,” Ermotti said in an SI interview. He was not a good student. “I was very restless, hyperactive. My goal has always been to somehow get by with a 4. Until I was 15, I only had football and sports on my mind.” Ermotti never regretted not working.

His family is very important to Ermotti. He tries to separate his work and private life well. Ermotti doesn’t talk about work at the weekend with his wife, Tina, and their two children. “This is my way of protecting my family.” Ermotti met his wife, who had also grown up in Lugano, on the square more than 30 years ago. At that time she was working at the famous investment bank Merrill Lynch in London. In 1992, the two got married. Of course in Lugano. Son Matteo is a DJ and music producer. The younger Edoardo works in a private equity firm.

Most Swiss people know Ermotti from his first time as President of UBS from 2011 to 2020. He put the big bank back on track after UBS suffered a huge loss in investment banking. Ermotti began his career at Citibank after completing his banking apprenticeship, where he initially worked in reverse convertible trading and later rose to vice president. Before joining UBS through Unicredit, Ermotti held various positions at London investment bank Merrill Lynch. After leaving, he became the Chairman of the Board of reinsurer Swiss Re in 2021. Now comes the comeback on UBS. Sergio Ermotti’s fortune is estimated at 150 to 200 million francs.

Source :Blick