UBS Faces Year of Uncertainty as Probe Hangs Over Hamers Bloomberg 1/20/2021 Marion Halftermeyer and Patrick Winters (Bloomberg) -- UBS Group AG’s board members are backing Chief Executive Officer Ralph Hamers as he faces a lengthy Dutch legal battle over his role in a money laundering scandal at his previous employer that has complicated efforts to put his stamp on the business. Popular Searches The new CEO, hit with a probe by the Dutch public prosecutor barely a month after taking over in November, faces an investigation that’s expected to drag on at least a year once the process formally starts next month, according to people familiar with the matter who requested anonymity. UBS’s directors -- who before Christmas had gone as far as discussing possible contenders to replace Hamers in a worst case scenario -- for now are putting their weight behind him, arguing the probe isn’t an immediate threat, a person briefed on the discussions said.