Former top UBS executive Tom Naratil believes the current UBS CEO is the right man to complete the integration with Credit Suisse.
«If you think about the challenges that UBS is facing, this is a perfect Hollywood casting moment, and Sergio Ermotti is the right CEO for the challenge at UBS today,» Tom Naratil said Thursday in an interview with «Bloomberg» TV in New York. UBS also has a very solid and strong chairman in Colm Kelleher and a very experienced team on the board, he continued.
Naratil was a close associate of the UBS CEO during Ermotti's first term. He worked for the Swiss bank for a good four decades, holding several leadership positions. However, the former head of UBS Americas and co-head of global wealth management retired in October 2022.
A New Challenge
At times, there was talk of a comeback at UBS. It was rumored that Ermotti might bring back the high-flyer to lead the integration of Credit Suisse. But in July, Naratil took on a new challenge, joining Lightyear Capital, a private equity firm specializing in asset management. There, he serves as an operating partner, finews.com reported.
Commenting on the prospects in his current role, Naratil said private equity managers are reluctant to sell their holdings via IPOs (behind paywall). In the current environment, it's not the best way to secure capital and desired valuations, he said.
