New UBS chief pledges to lead with "humility and energy"

09/25/2011 | Reuters

UBS CEO Oswald Gruebel stepped down over the weekend in a rogue-trading scandal, and was replaced by Sergio Ermotti, a former senior regional executive. Ermotti has a reputation for charm and determination, but some analysts say he lacks the gravitas necessary to lead Switzerland's top bank. "I'm fully aware of the magnitude and complexity of the task ahead and I will take the necessary humility and energy to succeed," he said.

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