A former top Bank of America executive is reportedly in the running for UBS CEO role
- The former head of investment banking at Bank of America, Christian Meissner, is said to be in the running to take over as an executive at Swiss lender UBS, Bloomberg reported.
- Long standing CEO Sergio Ermotti is set to leave the bank in the coming years as part of major changes to the lender's upper echelons.
- Meissner is in talks to join in a senior role at UBS that would eventually lead to his taking over as CEO. UBS is also considering other executives.
Ex-investment banking head at Bank of America, Christian Meissner, is in the running for a top role at UBS which could see the executive take over as CEO from Sergio Ermotti.
According to Bloomberg, Meissner is in talks to join in a senior role at UBS that would eventually lead to his taking over as CEO. UBS is also considering other executives.
The Swiss lender is planning for the eventual end of Ermotti's reign at UBS, which began in 2011, as he moved the bank towards wealth management in the wake of the financial crisis. Ermotti joined UBS from UniCredit, having previously worked for Merrill Lynch (before it was taken over by Bank of America).
Meissner, 49, left Bank of America last year following a row about the bank's risk appetite after it reined in its exposure to some market sectors. The former executive, born in Austria and educated at Princeton University, has worked at Goldman Sachs and Lehman Brothers as well as Japanese lender Nomura before being poached by Bank of America.
The potential move for Meissner comes as UBS looks to realign its management following the departures of its top dealmaker Andrea Orcel and wealth-management head Juerg Zeltner, Bloomberg reported.
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