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Ermotti, Villiger Met With UBS Investors, SonntagsZeitung Says

UBS AG (UBSN) interim Chief Executive Officer Sergio Ermotti and Chairman Kaspar Villiger met with undisclosed investors last week in Zurich, SonntagsZeitung reported, without saying from where it obtained the information.

Ermotti and Villiger presented their plan for the future of UBS after unauthorized trading at its investment bank, according to the report in Zurich-based SonntagsZeitung. UBS said last month it may be unprofitable in the third quarter after a rogue trader lost $2.3 billion.

UBS will give all details at its investors’ day in November, according to a spokesman at the Zurich-based bank.

To contact the reporter on this story: Simone Meier in Zurich at smeier@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

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