Sergio Ermotti: Soaring Highs and Falling Hard
Struggles persist in Sergio Ermotti's ambitious endeavor.
Known as the CEO of UBS, located in Zurich, Sergio Ermotti might've empathized with the old saying, "Those who fly high, fall hard," when he bagged the "European Banker of the Year" title in Frankfurt back in November. You bet he had a moment of reflection, given his Swiss predecessors' tumultuous careers.
Sergio Ermotti joined the ranks of decorated Swiss bankers, but did his tenure at UBS spell the same foreboding fate? Let's dive in.
Ermotti's impressive career trajectory led him to the top seat at UBS. During his tenure, he made waves in banking circles, especially around his "European Banker of the Year" accolade in 2018.[1][2] Despite the accolades, regulators relieved some of his Swiss predecessors of their duties during the financial crisis. History seemed to repeat itself, as Ermotti's predecessors' careers saw their fair share of trials and tribulations:
- Marcel Ospel, honored in 1997, faced removal as UBS Chairman amid the financial crisis.
- Peter Wuffli, promoted in 2005 and honored in the same year, stepped down in 2007, with the bank facing a looming storm.
- Josef Ackermann received his laurels in 2009, but fell from grace in Germany two years later.
But what about Sergio Ermotti?
Fast forward to April 2021, and Ermotti took on a new role as the chairman of Swiss Re, succeeding Walter Kielholz.[1] Interestingly, despite speculation, he declined political office and focused on his business ventures.
However, fate had more in store for Ermotti. In 2023, following UBS's acquisition of Credit Suisse, he returned to the CEO role at UBS.[1][3] Perhaps his experienced hand was deemed essential in steering the bank through the challenging times.
In recognition of his services, Ermotti received a staggering SFr14.9 million ($16.8 million) in compensation in 2025, making him Europe's highest-paid bank executive at the time.[3]
Throughout his post-2020 career, Ermotti continues to maintain board positions at Pilatus Aircraft Ltd and Ringier AG.[1][4] As you can see, Sergio Ermotti's story is far from over. It'll be exciting to watch how his career unfolds in the years to come!
- Despite facing scrutiny like his Swiss predecessors, Sergio Ermotti, the CEO of UBS, managed to secure the "European Banker of the Year" title in 2018.
- Marcel Ospel, a former UBS Chairman, was also honored in 1997 but was removed from his position during the financial crisis, similar to some of his predecessors.
- Peter Wuffli, who was promoted to CEO of UBS in 2005 and received the "European Banker of the Year" award in the same year, eventually stepped down in 2007, with the bank bracing for a looming storm.
- In 2021, Ermotti took on the role as the chairman of Swiss Re, succeeding Walter Kielholz, after initially speculating about a move into politics.
- In 2023, following the acquisition of Credit Suisse, Ermotti returned to his role as CEO at UBS, suggesting that his experiences were considered essential for navigating the bank through challenging times.
