UBS will appoint Sergio Ermotti as its permanent chief executive before its investor day on 17 November, according to media reports

UBS will appoint Sergio Ermotti as its permanent chief executive before its investor day on 17 November, according to media reports.

Swiss weekly paper the SonntagsZeitung said the board would make the appointment on a telephone conference so Ermotti could present the bank’s new strategy in New York as permanent CEO. The publication cited an unnamed source.

UBS did not respond to comments from this publication at the time of going to press.

Ermotti was appointed interim CEO in late September after Oswald Grübel resigned in the wake of a $2.3 billion rogue trading scandal.

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