UBS CEO Sergio Ermotti Expected to Step Down in April 2027 After Credit Suisse Integration: Report

UBS Group CEO Sergio Ermotti is expected to step down in April 2027, with his exit planned to coincide with the bank’s Annual General Meeting (AGM), according to a report published on January 13, 2026.

The timing would align with UBS’s stated objective of substantially completing the integration of Credit Suisse by end-2026, making 2027 a natural leadership transition point after one of the biggest and most complex restructurings in European banking history.

Ermotti, 65, returned to lead UBS in 2023 at the request of Chairman Colm Kelleher following the emergency takeover of Credit Suisse. He had previously served as UBS CEO from 2011 to 2020.

UBS has not officially commented on the reported timeline.

Integration project enters final stretch

UBS has repeatedly said it is on track to substantially complete the Credit Suisse integration by the end of 2026, with account migrations, platform consolidation and infrastructure decommissioning among the most operationally intensive phases still underway.

The April 2027 window would therefore allow the group to complete the merger work before handing over to a successor.

UBS shares surge; leadership succession race begins

UBS shares have significantly outperformed much of the European banking sector since the Credit Suisse acquisition, supported by confidence in the integration trajectory and balance sheet resilience.

Attention is now shifting to succession planning, with the report describing an internal race among senior executives.

Internal candidates cited include:

• Iqbal Khan, head of Asia-Pacific wealth management
• Robert Karofsky, UBS Americas president and co-leader of wealth management
• Beatriz (Bea) Martin, Group COO and President UBS EMEA, who has overseen key integration and operating execution areas
• Aleksandar Ivanovic, President of UBS Asset Management

The bank has previously signalled a preference for internal succession continuity, although external options cannot be ruled out in global banking transitions.

The remaining challenge: Swiss capital requirements

Ermotti’s remaining term is expected to include continued engagement with Swiss authorities over regulatory reforms proposed after the Credit Suisse collapse.

The report said UBS is pushing back on proposals that could require the bank to hold substantially more capital — with estimates in public reporting suggesting an additional around $24 billion (CHF 21 billion).

Ermotti has previously warned that excessive capital burdens could reduce competitiveness and constrain shareholder returns.

Summary

UBS CEO Sergio Ermotti is expected to step down in April 2027, according to reporting, marking the closing chapter of his second tenure after leading the emergency takeover and integration of Credit Suisse. UBS aims to substantially complete integration by end-2026, making 2027 a transition window. Attention is now shifting to succession planning, with internal candidates including Iqbal Khan, Robert Karofsky, Bea Martin and Aleksandar Ivanovic, while Swiss capital-rule proposals remain a major final hurdle.

Frequently asked questions (FAQs)

Q1: Is the April 2027 date officially confirmed by UBS?

Not yet. The timeline has been reported by major media outlets citing people familiar with the matter, while UBS has not publicly confirmed the specific date.

Q2: Why would Ermotti step down in 2027?

Ermotti returned in 2023 to lead the integration of Credit Suisse, which UBS expects to substantially complete by end-2026. A 2027 exit would align with completion of the multi-year project.

Q3: Who could succeed Ermotti?

Internal candidates reported include Iqbal Khan, Robert Karofsky, Bea Martin and Aleksandar Ivanovic. 

Q4: What is the main unresolved challenge for UBS?

Swiss regulatory proposals that may raise capital requirements for UBS following the Credit Suisse takeover remain a key focus area and could shape financial flexibility, dividends and buybacks.