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{{Use dmy dates|date=January 2017}}
{{Infobox person
| name = Sergio Ermotti
| image = Sergio P. Ermotti.jpg
| imagesize =
| caption =
| term = November 2011-<ref>{{cite web|title=UBS. CV Sergio P.Ermotti|url=https://www.ubs.com/global/en/about_ubs/corporate-governance/group-executive-board/cv-sergio-ermotti.html|work=UBS |publisher=ubs.com|accessdate=28 July 2016}}</ref>
| predecessor = [[Oswald Grübel]]
| successor =
| birth_name = Sergio Pietro Ermotti
| birth_date = {{birth date and age|1960|05|11|df=y}}
| birth_place = [[Lugano]], Switzerland
| death_date =
| death_place =
| nationality = Swiss
| alma_mater =
| occupation = Banker
| salary = [[US$]]13.9 million (2016)<ref>{{cite web|url=https://ig.ft.com/bank-ceo-pay/2017/|title=Here's what the CEOs of the world's biggest banks earn|author=Laura Noonan|author2=David Blood|date=23 July 2017|website=The Financial Times|accessdate=5 August 2017}}</ref>
| boards =
| spouse = Tina Ermotti
| children = 2
| parents =
| relatives =
| website =
}}

'''Sergio Pietro Ermotti''' (born 11 May 1960) is a Swiss banker. He has been the [[chief executive officer]] (CEO) of [[UBS|UBS Group AG]] since November 2011, having held the position on an interim basis since September 2011.<ref name="CEO of UBS">{{cite web|title=UBS appoints Sergio Ermotti as chief executive|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8890512/UBS-appoints-Sergio-Ermotti-as-chief-executive.html|publisher=Telegraph|accessdate=29 May 2012}}</ref> He previously served as the deputy chief executive officer for Italian bank [[UniCredit]], from 2007 to 2010.

Leading UBS, Ermotti denounced the [[2011 UBS rogue trader scandal|2011 rogue trader scandal]], implementing strict corporate policies governing community standards and initiated a major restructuring of the bank around [[private banking]] and limited its [[sell side]] operations.<ref name=":0" /> Expected to serve as chief executive until 2022, he is one of the [[UBS#History|longest serving heads of UBS]].<ref>{{Cite news|url=https://www.finews.asia/finance/25654-peoplemoves-ubs-sergio-ermotti-axel-weber-succession-planning|title=UBS: Sergio Ermotti as Chairman?|last=|first=|date=October 3, 2017|work=finews.asia|access-date=April 20, 2018|language=en-gb}}</ref>

Although Ermotti has not finalized succession plans, it is speculated that he might transition into [[Politics of Switzerland|Swiss politics]] or assume the chairmanship of UBS, succeeding [[Axel A. Weber|Axel Weber]].<ref>{{Cite news|url=https://www.finews.asia/finance/25097-ermotti-not-for-president|title=Sergio Ermotti for President?|last=|first=|date=July 21, 2017|work=finews.asia|access-date=April 10, 2018|language=en-gb}}</ref> He ruled out entering select political races for the [[Federal Council (Switzerland)|Bundesrat]] stating that he was "not a politician".<ref>{{Cite web|url=https://www.ft.com/content/466116fb-e94b-3136-8978-91ff7642bb17|title=UBS CEO rules out filling vacancy in Swiss cabinet|last=Atkins|first=Ralph|date=July 19, 2017|website=Financial Times|language=en-GB|archive-url=|archive-date=|dead-url=|access-date=April 10, 2018}}</ref> In addition to [[English language|English]], Ermotti speaks three of Switzerland's official languages: [[Swiss Italian|Italian]], [[Swiss German|German]], and [[Swiss French|French]], fluently.
== Early life and education ==
Sergio Pietro Ermotti was born on 11 May 1960 in [[Lugano]], Switzerland, an [[Italian language|Italian]]-speaking city. He left school at age 15 to pursue aspirations of being a [[Football player|footballer]] and skier. Before turning 18 and enrolling in college to fulfill theses aspirations, Ermotti decided to fill his time with an [[apprenticeship]] at the Cornèr Bank in [[Lugano]] to "get up to speed with [[accounting]], [[finance]], and so on".<ref name=":0">{{Cite news|url=https://www.bloomberg.com/features/2017-ubs-sergio-ermotti-interview/|title=How UBS Became Home to Half the World's Billionaires|last=Martinuzzi|first=Elisa|date=October 3, 2017|work=Bloomberg.com|access-date=April 6, 2018}}</ref> At his apprenticeship, he learned to sell and trade [[stocks]]. Although Ermotti did not attend university,<ref name=":2" /> he received a Swiss federal banking expert [[diploma]] and subsequently attended the Advanced Management Program at [[Oxford University]].<ref name="nzz2011">{{cite web|url=https://www.nzz.ch/sergio_ermotti-1.13364354|title= Sergio Ermotti|author=|website=NZZ.ch|language=de|accessdate=9 February 2018}}</ref>

==Banking career==
After his apprenticeship as a [[stockbroker]] at the Cornèr Bank, Ermotti was later promoted to trading.<ref name=":0" /> In 1985, Ermotti moved to [[Citibank]] in Zurich where he traded equity-linked products and later served as its Resident Vice President.<ref name="Munziger">{{cite web|url=http://www.munzinger.de/document/00000028858|title= Sergio Ermotti.Schweizer Bankmanager; UBS|author=|website=Munzinger Online/Personen - Internationales Biographisches Archiv|language=de|accessdate=9 February 2018}}</ref> In 1987, he went on to the Swiss office of the US-Investment bank [[Merrill Lynch]] in Zurich,<ref name="Ermotti NY Times 2011">{{cite web|url=https://dealbook.nytimes.com/2011/11/15/ubs-names-sergio-ermotti-as-chief-executive/|title= UBS Names Sergio Ermotti as Chief Executive|author=|website=NY Times|accessdate=9 February 2018}}</ref> and stayed with the bank for 16 years. He started with holding various positions in [[equity derivatives]] and [[capital markets]], and contributed to the expansion of the capital market business of the bank in french-speaking parts of Switzerland.<ref name="Munziger" /> In 1993, he was promoted to the position of Managing Director and moved to London being in charge for the European equity derivatives unit.<ref name="Munziger" /> Three years later, in 1996, Ermotti relocated to New York, as a head of global derivatives trading.<ref name="Forbes US 2014">{{cite web|url=https://www.forbes.com/sites/halahtouryalai/2014/01/06/tale-of-two-bankers-bob-mccann-sergio-ermotti-are-reinventing-wall-street/#68038e645fd6|title= Tale Of Two Bankers: Bob McCann, Sergio Ermotti Are Reinventing Wall Street|author=|website=Forbes|accessdate=9 February 2018}}</ref> He was eventually promoted to co-Head of Global Equity Markets and as a member of the Executive Management Committee for Global Markets & Investment Banking at [[Merrill Lynch]], which he served between 2001 and 2003.<ref name="Ermotti Citibank and Merrill Lynch">{{cite web|title=Meet the man to replace Grübel|url=http://www.efinancialnews.com/story/2011-09-26/meet-ubs-interim-chief-executive-sergio-ermotti|publisher=Financial News|accessdate=29 May 2012}}</ref><ref name="Ermotti nytimes2010">{{cite web|title=UBS Appoints an American As Its Chief Financial Officer|url=https://dealbook.nytimes.com/2010/12/03/ubs-names-next-chief-financial-officer/|publisher=NY Times|accessdate=9 February 2018}}</ref>

He joined the Italian bank [[UniCredit]] headquartered in Milan, in December 2005 as Head of Markets & Investment Banking.<ref name="nzz2011e">{{cite web|title=Im dritten Anlauf auf den Chefposten|url=https://www.nzz.ch/im_dritten_anlauf_auf_den_chefposten-1.12641267|publisher=NZZ|language=de|accessdate=9 February 2018}}</ref> At that point in time, UniCredit took over German bank, [[HypoVereinsbank|''HypoVereinsbank'' (HVB)]].<ref name="manager mag2011">{{cite web|title=UBS sagt Ermotti und Weber zu|url=http://www.manager-magazin.de/unternehmen/banken/a-797795.html|publisher=Manager Magazin|language=de|accessdate=12 February 2018}}</ref> From 2007, he was [[UniCredit]]’s deputy chief executive officer with responsibility for the strategic business area, Corporate and Investment Banking and Private Banking,<ref name="UniCredit's investment bank chief Sergio Ermotti">{{cite web|title=UniCredit's investment bank chief Sergio Ermotti|url=https://www.reuters.com/article/2010/10/26/unicredit-ermotti-idUSLDE69P2DB20101026|publisher=Reuters|accessdate=29 May 2012}}</ref> before leaving the bank in 2010.<ref>{{cite web|title= Sergio Ermotti lascerà Unicredit|url=http://www.ticinonews.ch/economia/82238/sergio-ermotti-lascera-unicredit|publisher=ticinonews.ch|language=it|accessdate=12 February 2018}}</ref><ref name="finews2016">{{cite web|url=https://www.finews.com/news/english-news/23033-sergio-ermotti-ubs-unicredit-andrea-orcel|title=UBS Boss Sergio Ermotti Headed for Unicredit?|publisher=finews.ch|language=|accessdate=12 February 2018}}</ref> Ermotti was appointed chairman and chief executive of [[UBS]]'s [[Europe]], [[Middle East]], and [[Africa]] group, a group which is actively giving money to the [[Dakota Access Pipeline]],<ref>{{Cite web|url=http://www.yesmagazine.org/people-power/how-to-contact-the-17-banks-funding-the-dakota-access-pipeline-20160929?gclid=Cj0KEQiAhNnCBRCqkP6bvOjz_IwBEiQAMn_TMVHNO4E_g38fl5cWZG2Mm4bd8L7KHy6S4IX-Z0wyWhwaAghk8P8HAQ|title=How to Contact the Banks that are FUNDING DAPL|last=Fuller|first=Emily|date=30 November 2016|website=Yes Magazine|archive-url=|archive-date=|dead-url=|access-date=18 December 2016}}</ref> and became a member of the Group [[Executive Board]] in April 2011. He was appointed interim Group [[CEO]] of [[UBS]] beginning in 24 September 2011 before being given this post permanently on 15 November 2011.<ref name=":1">{{Cite news|url=https://dealbook.nytimes.com/2011/11/15/ubs-names-sergio-ermotti-as-chief-executive/|title=UBS Names Sergio Ermotti as Chief Executive|last=Werdigier|first=Julia|date=November 11, 2011|work=DealBook|access-date=April 8, 2018|language=en}}</ref> In response to the [[2011 UBS rogue trader scandal]], Ermotti sent an internal memo stating: "I want to make clear that no one’s personal interest nor any amount of revenue is worth more than the bank’s reputation".<ref name=":1" />

Because of his new responsibility as CEO, he resigned from his position as a president of [[Darwin Airline]] in 2011.<ref name="Ermotti to play swiss card in UBS CEO contest">{{cite web|title=Ermotti to play swiss card in UBS CEO contest|url=https://www.reuters.com/article/ubs-ermotti-idUSL5E7LV1J620111103|publisher=finenews.ch|accessdate=17 April 2016}}</ref> Sergio Ermotti was a member of the Board at the [[London Stock Exchange Group plc|London Stock Exchange]] between September 2008 and July 2013. In November 2014, he became the chief executive officer for UBS Group AG. In 2015, the Swiss newspaper ''[[Schweiz am Sonntag]]'' named him as the most successful manager of a company listed on the [[Swiss Market Index]].<ref name="Sergio Ermotti führt die USB an die Spitze">{{cite web|title=Schweiz am Sonntag manager|url=http://www.schweizamsonntag.ch/ressort/wirtschaft/sergio_ermotti_fuehrt_die_ubs_an_die_spitze/|publisher=[[Schweiz am Sonntag]]|accessdate=26 April 2016}}</ref> His salary in fiscal year 2016 was estimated to be [[United States dollar|US$]]13.9 million.<ref name="ftbankchiefexecutives2016pay">{{cite news|last1=Blood|first1=David|last2=Noonan|first2=Laura|title=Bank chief executives’ pay 2016|url=https://ig.ft.com/bank-ceo-pay/2017/|accessdate=August 5, 2017|work=Financial Times|date=July 23, 2017}}</ref>

==Personal life==
As of April 2014, Ermotti was married with two children.<ref>{{cite web|url=https://www.ft.com/content/5296441e-c0a0-11e3-8578-00144feabdc0|title=Subscribe to read|author=|date=|website=Financial Times|accessdate=9 February 2018}}</ref> He favorite movies are [[George Roy Hill]]'s ''[[The Sting]]'' and [[Ken Kesey]]'s ''[[One Flew Over the Cuckoo's Nest (film)|One Flew Over the Cuckoo's Nest]].''<ref name="auto">{{Cite news|url=http://www.businessinsider.com/sergio-ermotti-ubs-merrill-lynch-succession-plan-2010-11|title=Is UBS Grooming This "Impeccably Dressed" Man To Be CEO?|last=Wachtel|first=Katya|date=December 6, 2018|work=Business Insider|access-date=April 10, 2018}}</ref> [[Apple pie]] is his favorite food.<ref name="auto"/> Ermotti speaks fluent [[Swiss Italian]],<ref>{{Citation|last=USI Università della Svizzera italiana|title=Svizzera: Ritorno al Futuro - Sergio Ermotti|date=May 24, 2016|url=https://www.youtube.com/watch?v=7E4S6VOVNDU|language=It|accessdate=May 15, 2018}}</ref> [[Swiss German]],<ref>{{Cite news|title=UBS Chef Sergio Ermotti ist gefordert von Davoser Schülern|last=|first=|date=January 23, 2018|work=Schweizer Radio und Fernsehen|language=De}}</ref> [[Swiss French]],<ref>{{Cite web|url=https://www.rts.ch/play/tv/lactu-en-video/video/interview-de-sergio-ermotti-ceo-ad-interim-dubs-notre-strategie-cest-detre-la-plus-grande-et-la-meilleure-banque-de-gestion-de-fortune-au-monde?id=3545558&station=a9e7621504c6959e35c3ecbe7f6bed0446cdf8da|title=Interview de Sergio Ermotti, CEO ad interim d'UBS: "Notre stratégie c'est d'être la plus grande et la meilleure banque de gestion de fortune au monde" - Vidéo - Play RTS|last=|first=|date=October 10, 2011|website=Play RTS|language=fr|archive-url=|archive-date=|dead-url=|access-date=October 20, 2018}}</ref> and [[English language|English]].<ref>{{Cite news|title=Ermotti Says UBS Investment Banking Unit Is About 'Growing and Being Successful'|last=Miller|first=Matt|date=April 22, 2018|work=Bloomberg Markets|language=English}}</ref> He supports Italian football club, [[A.C. Milan]].<ref name=":2">{{Cite news|url=https://www.fnlondon.com/articles/an-audience-with-sergio-ermotti-tutto-bene-20170710|title=An audience with Sergio Ermotti: Tutto bene?|last=Guererra|first=Francesco|date=|work=Financial Times London|access-date=May 18, 2018|language=en-GB}}</ref>

== Philanthropy ==
Ermotti was challenged by [[Marc Walder]], CEO of Swiss media company [[Ringier]] and Gianluigi Bianchi, managing partner for Europe of [[Wealth-X]] to undertake the [[ALS Ice Bucket Challenge]].<ref name="UBS's 'Mr Cool' takes the Ice Bucket Challenge - Video">{{cite web|title=UBS's 'Mr Cool' takes the Ice Bucket Challenge - Video|url=http://hereisthecity.com/en-gb/2014/08/28/another-ceo-undertakes-ice-bucket-challenge-video/|publisher=HITC Business|accessdate=6 November 2014}}</ref>

== See also ==

* [[List of University of Oxford people|List of Oxford University people]]
* [[Banking in Switzerland]]

==References==
<references/>

== External links ==
*[https://www.ubs.com/global/en/about_ubs/corporate-governance/group-executive-board/cv-sergio-ermotti.html Curriculum vitae on UBS website]

{{UBS AG}}

{{DEFAULTSORT:Ermotti, Sergio}}
[[Category:Living people]]
[[Category:1960 births]]
[[Category:Swiss bankers]]
[[Category:Citigroup employees]]
[[Category:Swiss business executives]]
[[Category:Swiss chief executives]]
[[Category:Chief executives in the finance industry]]
[[Category:Bank presidents and chief executive officers]]

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