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In Good Company with Nicolai Tangen
UBS CEO: Surprise comeback, Credit Suisse, and winning
Mar 6, 2024
Sergio Ermotti, the returning CEO of UBS, shares insights from his pivotal role during UBS’s historic acquisition of Credit Suisse. He reveals the challenges he faced as new CEO and discusses why Credit Suisse stumbled. The conversation dives into the evolution of Swiss banking, contrasting the dynamics of US and European banks, and highlights the importance of corporate culture. With anecdotes reflecting his football background, Ermotti emphasizes teamwork's role in achieving success and the significance of nurturing leadership talent.
41:45
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Quick takeaways
- Historical acquisition of Credit Suisse by UBS showcased strategic decision-making and market stabilization efforts.
- Cultivating a strong leadership team and corporate culture is vital for success in dynamic environments.
Deep dives
Transition from Football to Banking
Starting off as a talented football player dreaming of a professional career, Sergio Emote transitioned into banking as a plan B due to realizing his limited potential in football. He began his banking journey by becoming a trader for convertible bonds and options, which led to a defining moment in his career when he was offered to build up a Swiss-firing capital market operation from scratch in 1987. This experience taught him valuable lessons on management, business building, and leadership that are still applicable today.
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