SIX, the operator of the Swiss stock exchange, is looking for a new chief executive officer. The successful candidate will have a very specific background, information obtained by finews.com shows.
Urs Rueegsegger, the CEO of SIX (pictured below), will leave the company at the end of this year. The operator of the Swiss financial market infrastructure is now looking for a successor for its 55-year-old top executive: «The search for a new CEO is taking shape as planned,» the company told finews.com. There was no time pressure though, the spokesperson added.
A successor hasn’t been found yet, but at least one potential candidate has told the company that he didn't want to be considered: Christoph Landis, the head of Swiss Exchange.
The Digital Candidate
SIX has mandated Egon Zehnder with the search for a new CEO, according to several sources. The company is looking internally as well as externally for the right person. SIX refused to comment and Egon Zehnder hasn’t yet answered to a request for information.
Headhunters say that the mandate is a tough one. Top executives won’t be likely to be attracted because SIX will not start expanding dramatically in the near future, making the mandate a little less attractive for such candidates. Nonetheless, the demands have increased. The successful candidate won’t come from a cantonal bank like Rueegsegger did. And, more importantly perhaps, he or she needs to have not only a strong background in the financial market, but a strong grasp of IT and digital technology. After all, SIX wants to take the lead in the digitization of the Swiss financial market.
Headhunters therefore expect a head of IT or responsible manager of the digital transformation of a major Swiss bank to be the successful candidate, unless SIX finds the right person abroad.
Two Strong Contenders From Inside UBS
Stefan Arn (pictured below), the head of IT at UBS wealth management in Europe, the Middle East and Africa, would be one such candidate. He is considered one of the best in his field and a strong contender for the job, according to headhunters. The question is, whether Switzerland’s biggest bank would let such an important man leave without a fight.
Another option is Andreas Kubli, digitization and multi-channel boss at UBS Switzerland and one of the most prominent representatives of the Swiss fintech community. He would definitely be one to promote innovation within SIX.
Outsider Bets
Given the task that the new CEO will have to handle, it is possible that the company will even opt for a manager from the tech industry, an outsider so to speak. People close to the stock exchange operator told finews.com that an IT expert might actually become the successful contender because of the importance of technological knowhow.
Christian Petit recently left Swisscom, the Swiss telecommunications giant, and might be tempted to launch his comeback. He used to lead the business clients’ unit at Swisscom.
CEO Experience?
But the board of SIX might just as well demand CEO experience from the choice candidate. Which would favor someone like Stephanino Isele (pictured below), according to headhunters. Isele is head of institutional clients and multinationals at Zuercher Kantonalbank and member of the bank’s executive committee. Another one to fit the description is Michael Hoelzle, who left Zurich-based fintech Leonteq at the beginning of 2014. He was the chief operating officer.
The Insider Candidate
Last but not least, the company might still prefer to promote someone from within. Juerg Weber has been in charge of the payment division since 2015, the fastest-growing unit within the company.
He recently handled the takeover of the terminals business of Aduno, a Swiss rival. SIX paid almost 100 million francs for the acquisition, according to media reports.
Big Bank Interest Decisive
Swiss big banks for sure will pay close attention to who will be selected. UBS boss Sergio Ermotti recently criticized Six for not having tackled the «Superbank» project, of which he is a strong supporter. The new CEO of SIX presumably will be promote this idea and make it a priority.
The bank obviously has what it needs to make its influence count. Sabine Keller-Busse is the representative of Switzerland’s No. 1 and vice president of Six. She also presides over the nomination committee for a new CEO.
Romeo Lacher is the president. He was at Credit Suisse until February.
