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Jürg Kaufmann has been removed as head of the UBS Berne region, along with his key employee overseeing wealthy clients, amid ongoing management upheaval. Chief executive Sabine Keller-Busse, facing pressure from Sergio Ermotti, aims to regain control after a series of high-profile departures to competitors. The new leadership faces challenges due to a lack of experience, complicating efforts to stabilize the region.
Jürg Kaufmann, head of UBS Bern, has resigned amid significant upheaval following the integration of Credit Suisse. His departure comes as key personnel, including the head of wealthy private clients, are also being replaced, leading to a talent exodus to competitors like Vontobel and Berner Kantonalbank. Chief executive Sabine Keller-Busse, facing pressure from Sergio Ermotti, has taken decisive action to address the turmoil.
Rob Karofsky is the leading internal candidate to succeed Sergio Ermotti as UBS CEO, thanks to his extensive investment banking experience and leadership in Global Wealth Management. Known as "Killer Karofsky" for his trading skills, he is respected for his fair management style. While internal solutions are favored, UBS is also considering external candidates for the role.
Rob Karowsky is the leading internal candidate to succeed Sergio Ermotti as UBS CEO, thanks to his extensive investment banking experience and leadership in Global Wealth Management. Known as "Killer Karowsky" for his trading skills, he is respected for his fair management style. While internal options are favored, UBS is also considering external candidates for the role.
A recent incident at the prestigious White Turf event in St. Moritz, where a horse crashed into a barrier, has raised safety concerns. UBS, which inherited the sponsorship from Credit Suisse, faces pressure regarding its involvement, especially after a serious accident in 2017. The Canton of Zurich Animal Welfare Association has called for the event to be abolished due to the high risks involved for both horses and riders.
Brack will become the name sponsor of the Swiss Super League starting in the 2025/26 season, committing for at least five years to enhance fan engagement and support youth talent. UBS will continue as an Impact Partner, focusing on youth projects, while Dieci extends its title sponsorship of the Challenge League for three more years, emphasizing the connection between pizza and football. These partnerships aim to strengthen the future of Swiss football both nationally and internationally.
UBS"s integration of Credit Suisse"s investment banking division is progressing smoothly, according to Jens Haas, head of the Swiss business area. He noted that the combined team operates effectively, with no significant cultural issues or client losses reported. The division is now larger and well-positioned for future market developments.
Sabine Keller-Busse, a prominent figure in Swiss banking, currently leads UBS Switzerland and is recognized for her strong leadership and engagement skills. With a background in business administration and experience at McKinsey and Credit Suisse, she has been instrumental in the integration with Credit Suisse. Married to IBM Switzerland's CEO, Christian Keller, they are regarded as a powerful couple in Switzerland, residing in Zurich with their two daughters.
Sabine Keller-Busse faces significant challenges in Personal & Corporate Banking at UBS Switzerland, particularly after the Credit Suisse takeover, as she aims to restore profitability while managing diverging stakeholder interests. Meanwhile, Iqbal Khan oversees Swiss Wealth Management, which is highly profitable, complicating Keller-Busse's position as a potential successor to CEO Sergio Ermotti. The bank emphasizes a shared responsibility for wealth management success, despite the competitive dynamics between the divisions.
UBS is selling 19 branches across Switzerland, including the Locarno branch, as part of its consolidation following the integration of Credit Suisse. This significant real estate transaction allows potential buyers to acquire individual properties or the entire portfolio, with a closing deadline expected in spring 2025. UBS plans to close 85 branches to streamline its network, aiming for 190 branches by 2026, similar to its pre-takeover count.
Sabine Keller-Busse
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