UBS chairman backs CEO as ING scandal casts shadow

“I am very confident that he has the ability to do a good job as the CEO of UBS, ” Weber said in the interview with Bloomberg TV.

ZURICH: UBS Group AG chairman Axel Weber reiterated his backing for chief executive officer Ralph Hamers after a probe of his role in a money laundering scandal at his former employer, ING Groep NV, while declining to predict whether the new CEO would stay on.

Speaking in an wide-ranging interview at UBS’s Greater China Conference, Weber said that at the time of Hamers’s hiring, the matter had been settled between the Dutch prosecutor and ING, which Hamers ran until last year. The chairman didn’t answer directly when asked whether he was confident that Hamers would continue to steer Switzerland’s largest bank.