- UBS CEO Ralph Hamers is a key figure in negotiations to buy Credit Suisse and stop its collapse.
- The 56-year-old exec has labored in Swiss banking for more than three many years and is a proponent of digital innovation.
- Here’s a take a look at the life of Hamers.
In tense, down-to-the-wire negotiations, UBS is working to eke out a deal to buy Credit Suisse and stop a financial institution collapse before worldwide markets open Monday, led in half by the Swiss financial institution giant’s CEO, Ralph Hamers.
The 56-year-old Dutch businessman has been on the helm of UBS since November 2020, becoming a member of the financial institution after more than 30 years at ING Group.
Beyond his monetary acumen, Hamers has develop into identified for his quirks, together with usually showing sans tie and together with his shirt collar open, based on Barron’s, a rarity in the buttoned-up world of finance.
Considered a digital innovator at ING and UBS, he told CNBC on the World Economic Forum in Davos in 2022 that he said he needed to make the financial institution the “Netflix of wealth.”
“When we started to develop our new strategy around how we can become the wealth ecosystem, how can we become the Netflix of wealth, of banking, it was about how do we get out content … in a more digital way,” he said.
“How do we make it so they consume the content in the way they consume media, like a Netflix, where they watch a trailer and think, ‘I like this, I want to see more of this’?”
Despite main ING by means of turbulent occasions — together with course-correcting the financial institution because it struggled to repay a bailout of €10 billion — he also was concerned in a 2018 probe into the corporate’s failure to stick to anti-money laundering laws. ING in the end was slapped with a virtually $900 million positive for not adequately stopping monetary crime, based on BBC News.
At the time, he said the financial institution took “full responsibility” and its failure to comply with coverage was “unacceptable,” BBC News reported.
Hamers has been married to Patricia van Nimwegen since 1997, and the couple have twins.