UBS’s Ermotti to become Swiss Re chairman

ZURICH (Reuters) – Swiss Re said it will nominate UBS Group Chief Executive Sergio Ermotti to be its next chairman, the Swiss reinsurer said on Tuesday.

Ermotti, who is due to step down from Switzerland’s biggest bank in November, will replace Walter Kielholz at Swiss Re from 2021, the company said, confirming a Reuters story on Monday.

(Reporting by John Revill, editing by Silke Koltrowitz)