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The cloth between UBS president Axel Weber and new CEO Ralph Hamers has already been cut. Weber cheats Hamers in day-to-day business and wants to extend his own term.
This is what an insider says. Sabine Keller-Busse’s promotion this morning to the new head of UBS Switzerland fits the picture.
According to the source, it was “natural” for Weber to prematurely whisper to the Manager Magazin staff. “Internally, everyone knows Weber was chatting.”
Keller-Busse’s message about freestyle to the head of Switzerland, a former McKinsey consultant and former CS manager, who had never held a prominent job in front-line business, fits the picture.
The CEO, who has to operate Keller buses on a daily basis, is not the first to speak.
But the president, Axel Weber, who would actually be responsible for the affairs of the board and not the staff of the management of the group.
“I would like to thank Axel Lehmann (the former head of Switzerland, CDR) for his outstanding contribution over many years, first as a member of the board of directors and then as a member of the management of the group. He brought valuable experience in both roles, ”Weber is quoted.
Only after the president is CEO Ralph Hamers allowed to voice his opinion on the change.
“Sabine Keller-Busse has a strong track record in leadership and transformation of group functions, as well as promoting business growth as President of EMEA and former COO of UBS Switzerland,” Hamers said in the statement.
“She has the ideal prerequisites to further develop UBS Switzerland for sustained success.”
The Weber First, Hamers Second order should make it clear: the man of the house is the president. Professor Weber.
The insider says he is determined to extend his term, which will expire in spring 2022; He liked him too much as captain of UBS.
Hence the self-assured demeanor that borders on arrogance.
For Hamers, the warehouse bus transport, combined with Weber’s claim to power, is the second cold shower in a few weeks at the main Swiss bank and his infighting for power.
Back in September, when Weber’s plan to merge with Credit Suisse was made public under the codename “Signal,” Hamers had to be confused by the German who brought it to UBS.
At that time, the Dutchman had just started at UBS. In November, after a two-month training period, he assumed operational control from Sergio Ermotti.
According to the source, Hamers will not be put off by the claim to power and the mess in the operating business. “Hamers objects to it,” so the source’s statement.
The Dutchman increasingly enjoys the support of his teammates in managing the group. And there are also voices on the board of directors that question Weber’s thirst for power, if only tentatively.
