UBS Chairman Villiger Tells NZZ Investment Bank Is Necessary

UBS AG (UBSN) Chairman Kaspar Villiger said the Swiss lender plans to keep its investment bank after an employee at the unit allegedly lost $2 billion in unauthorized trades, Neue Zuercher Zeitung said.

Villiger told the newspaper the investment bank is necessary, NZZ said.

To contact the reporter on this story: Thomas Mulier in Geneva at tmulier@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net

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