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UBS turns to Ermotti as hard work of Credit Suisse rescue begins

UBS has re-hired Sergio Ermotti as Group CEO to help facilitate the integration of Credit Suisse following the shock announcement of the CHF3 billion (US$3.24 billion) Swiss government-brokered takeover. UBS said on Wednesday that its board of directors had appointed Ermotti to replace Ralph Hamers as of 5 April, following its Annual General Meeting. Hamers’ decision to step down has…

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