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Wealthfront: UBS CEO Ralph Hamers Lands The Next Big Digital Banking Desaster After Payvision!
The Dutch UBS CEO Ralph Hamers allegedly prides himself on his digital banking expertise. However, this is not backed up by recognizable achievements. On the contrary. Most recently, UBS announced that its prestigious $1.4 billion deal with digital wealth manager US Wealthfront, announced in January 2022, has been canceled. No reason was given. Already in his time as CEO of Dutch ING, Ralph Hamers made a $450 million mistake in 2018 with the acquisition of Payvision. In 2121, ING announced the termination of the Payvision business.