Wed, 2023-03-29 11:34
ZURICH, March 29 : UBS Group AG has rehired Sergio Ermotti as CEO to steer its massive takeover of neighbor Credit Suisse — a surprise move that seeks to take advantage of his experience in rebuilding the bank after the global financial crisis, according to Reuters.
The trader turned corporate problem fixer faces the tough challenge of laying off thousands of staff, cutting back Credit Suisse’s investment bank and reassuring the world’s wealthy that UBS remains a safe harbor for their cash.
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