Sergio Ermotti
| Personal details | |
| Born | Sergio Pietro Ermotti 1960/5/11 (age 65) 🇨🇭 Lugano, Ticino, Switzerland |
| Nationality | 🇨🇭 Swiss |
| Languages | Italian, German, French, English |
| Spouse | Tina Ermotti (married) |
| Children | 2 |
| Career details | |
| Occupation | UBS Group CEO |
| Compensation | CHF 14.9 million ($16.8M USD, 2024) |
| Net worth | Not publicly disclosed |
Sergio Pietro Ermotti (born 11 May 1960) is a Swiss banker serving as Group Chief Executive of UBS Group AG, Switzerland's largest bank and one of the world's leading wealth managers. Ermotti led UBS during two separate tenures (2011-2020 and 2023-present), returning in April 2023 to orchestrate the historic emergency acquisition of Credit Suisse, Switzerland's second-largest bank, in a government-brokered rescue that created Europe's largest wealth manager with over $5 trillion in assets.
Born in Lugano in Switzerland's Italian-speaking Ticino canton, Ermotti began banking at age 15 at Cornèr Banca after abandoning dreams of professional football. He speaks four languages fluently (Italian, German, French, English) and married Tina Ermotti, with whom he has two children. His compensation of CHF 14.9 million ($16.8M) in 2024 made him Europe's highest-paid bank CEO, drawing criticism from Swiss Finance Minister Karin Keller-Sutter who said it exceeded "the imagination of any normal citizen."
Early Life and Career
Born 11 May 1960 in Lugano, Italian-speaking Switzerland. Started banking age 15 at Cornèr Banca despite aspiring to be footballer or sports teacher. Career included Merrill Lynch and UniCredit before joining UBS.
UBS Leadership
UBS CEO 2011-2020 (rebuilt bank after financial crisis), returned April 2023 replacing Ralph Hamers to lead Credit Suisse acquisition. Orchestrated March 2023 government-brokered emergency takeover of 166-year-old Credit Suisse for CHF 3 billion after Credit Suisse's collapse. Integration created Europe's largest wealth manager.
Personal Life
Married to Tina Ermotti, 2 children. Speaks Italian, German, French, English fluently. Resides Switzerland.
Compensation
CHF 14.4M (€14.7M) for 9 months 2023, CHF 14.9M (~$16.8M) for 2024, making him Europe's highest-paid bank CEO. Swiss lawmakers considering CHF 5M executive pay cap following controversy.
Controversies
Executive compensation criticism from Swiss Finance Minister. UBS historical issues include $780M US tax evasion fine (2009, pre-Ermotti), potential €4.5B French tax evasion fine (2004-2012 period), $1.5B Libor scandal fine, $1.4B forex rigging fine. Ermotti declared banking secrecy "dead" amid global tax evasion campaigns. Credit Suisse rescue raised "too big to fail" concerns in Switzerland.