Ralph Hamers has been named group chief executive and president of the executive board of UBS, effective from 1 November 2020.
He will become a member of UBS’ group executive board on 1 September, however, to “ensure a smooth leadership transition”, the Swiss banking giant said.
Hamers joins from ING Group, where he has served as chief executive for the past six years.
UBS board chairman Axel Weber described him as “the right CEO to lead our business into its next chapter”.
Weber extended the board’s thanks to outgoing group chief executive Sergio Ermotti, who “led the transformation of UBS in the wake of the global financial crisis”.
Of his departure, Ermotti said that “after nearly a decade as CEO, ow is the right time to write my bnext chapter”.
Who is Hamers?
Having joined ING Group in 1991, Hamers progressed through a series of roles across various business segments and geographies before taking the helm in 2013.
He has an MSc in business econometrics and operations research from Tilburg University and is chairman of the European Banking Group.
Hamers will remain with the Dutch firm until 30 June 2020.
ING said it will make further announcements on its progress in hiring a successor “if and when appropriate”.