UBS plans to keep Ermotti on as CEO for longer, NZZ reports

Group 1 - UBS plans to extend CEO Sergio Ermotti's tenure beyond the previously expected mid-2027 departure date to navigate regulatory challenges from the Swiss government [1] - The Swiss government proposed measures that could require UBS to hold an additional $24 billion in capital and restrict the use of certain assets towards Common Equity Tier 1 capital [1] - UBS has rejected the proposed regulatory changes, arguing they would diminish Switzerland's competitiveness as a financial hub [1] Group 2 - The board of UBS is preparing for various scenarios regarding its operational base, which may influence whether the bank remains in Switzerland or relocates its headquarters [1] - UBS's spokesperson emphasized the commitment to maintaining successful global operations from Switzerland while preparing for all potential outcomes [1]