ABB Is Selective With Banks Amid Euro Turmoil, Hogan Tells WSJ

ABB Ltd. (ABBN) is avoiding some European banks to make sure it does not get “caught” by euro turmoil, the Wall Street Journal reported, citing an interview with Chief Executive Officer Joe Hogan.

“There are hot-spots and it is fair to say we are selective where we are putting our money,” the newspaper quoted Hogan as saying.

To contact the reporter on this story: Patrick Winters in Zurich at pwinters3@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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