Imo brought him back because 1) if Switzerland is only going to have 1 mega bank, its CEO has to be Swiss, 2) Ralph’s area of focus is digital (failed wealthfront acquisition) and lax culture, where as Ermotti is experienced in everything swiss (including some nice suits), plus the experience of cutting 10’s of thousands of jobs from 2008 to 2016 or so, especially on the IB side.

Tldr: Ralph not seen to be a strong enough leader for the PF combo

 

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