ING CEO Ralph Hamers will step down from his position and leave ING as of 30 June. After 29 years at ING he will join UBS on 1 September and will become the new Group Chief Executive Officer of UBS as of 1 November 2020.
https://twitter.com/ING_news/status/1230269149693304832
Ralph, who has been ING’s CEO over the past six years, has transformed ING into a leading digital bank, and has put ING on the path to becoming the go-to financial platform for customers. He has created value for all stakeholders and played a leading role in driving sustainability efforts in the financial industry.
“I am very proud of what we have accomplished during the more than six years I had the privilege to lead ING. We have set the strategic course for ING and I’m convinced that the steps we have taken to prepare ING for a digital and mobile future will continue to pay off,” Ralph said.
“This decision has been very hard for me having in mind the many talented and dedicated colleagues and friends I have worked with over the past 29 years. But I am also honoured to get the opportunity to lead an established institution like UBS,” he said.
Ralph joined ING in 1991 and held various management positions across the bank, among which country manager of Romania and Belgium. In 2013 he was appointed to the Executive Board (EB) and Management Board Banking (MBB) and later in the year became its chairman and CEO.
He will remain in his role as CEO until 30 June, running the daily business and working with the EB and MBB to ensure a smooth transition. Further announcements on his succession process will be made if and when appropriate.
Source: ING
The current UBS CEO said:
https://twitter.com/UBS_CEO/status/1230415798713438208
The Board of Directors of UBS Group AG announced today it has named Ralph Hamers as its new Group Chief Executive Officer and President of the Executive Board of UBS AG, effective 1 November 2020. Hamers currently serves as CEO of ING Group.
UBS Group AG Board Chairman Axel A. Weber said, "Ralph is the right CEO to lead our business into its next chapter. A seasoned and well-respected banker with proven expertise in digital transformation, Ralph has an impressive track record leading ING Group for more than six years. As the industry undergoes fundamental change, Ralph is the person to lead UBS’s continued transformation and build upon its successful strategy as the world’s largest and only truly global wealth manager and the leading universal bank in Switzerland, enhanced by its investment bank and asset management."
“The Board sincerely thanks Sergio for his exceptional commitment and contributions to the success of the business since taking office almost nine years ago. I would personally like to thank Sergio for our partnership during this entire period and for his constructive collaboration during the succession process.” Weber continued, “Sergio led the transformation of UBS in the wake of the global financial crisis. Today, UBS is the world’s leading wealth manager and the leading bank in Switzerland, supported by a global investment bank with world-leading equity research capability, and a large-scale and diversified asset manager with a strong focus on sustainable investing. During Sergio’s tenure, UBS created substantial value for our shareholders, as tangible book value including dividend distribution has grown at 6% annually and shareholders have received over USD 15 billion dividends and USD 1.5 billion in share-buybacks. We are grateful to Sergio for the strong leadership he provided as CEO of UBS, adding a successful chapter to the history of this more-than-150-year-old bank.”
Hamers joined ING Group in 1991. During his successful career, he progressed through a series of roles across business segments and geographies before becoming CEO in 2013. Under his leadership, ING Group has implemented a fundamental shift in its operating model and is now considered one of the best examples of digital innovation in the banking sector. Hamers holds a Master of Science in Business Econometrics and Operations Research from Tilburg University in the Netherlands and is Chairman of the European Banking Group, the leading European banking association.
Hamers said, “I’m honored by the opportunity to lead this great institution. I have long admired the firm’s transformation under the leadership of Axel and Sergio. The firm has an outstanding global client franchise across its business divisions, all of which are underpinned by the incredibly strong UBS brand. I’m looking forward to working with the senior management team, the Board of Directors and all of UBS’s employees to further strengthen the franchise and serve UBS’s clients to achieve their goals.”
Sergio P. Ermotti said, “It has been a privilege to lead UBS. I’d like to thank all my colleagues, past and present, for their dedication to serving our clients and making UBS what it is today. After nearly a decade as CEO, now is the right time to write my next chapter. UBS is in great shape, enjoys maximum strategic flexibility and is well positioned for sustainable growth. In the months ahead, my colleagues and I will continue to execute our strategy and deliver against our ambitious targets, and we look forward to working with Ralph to ensure a seamless transition.”
Source: UBS
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