UBS AG (UBSN)’s board will appoint Sergio Ermotti as permanent chief executive officer of the Swiss bank “shortly before” an investor day in New York on Nov. 17, SonntagsZeitung reported, citing an unidentified person.
Ermotti, now the bank’s interim CEO, will present a plan for a gradual reduction of UBS’s investment banking operations at the gathering, the newspaper said. A spokesman at UBS couldn’t be immediately reached for comment.
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