UBS CEO Says Asset-Management Industry to See More Consolidation
- UBS seeking to grow organically, can’t rule out acquisitions
- Ermotti says looking to make business ‘more efficient’
UBS CEO: More Consolidation Coming to Asset-Management
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UBS Group AG Chief Executive Officer Sergio Ermotti said he expects to see more consolidation among asset managers, adding that he can’t rule out an acquisition.
“The asset-management industry is becoming very competitive and is likely to see more consolidation,” Ermotti said in an interview with Bloomberg Television’s Francine Lacqua in Washington. “We look first of all at making our business more efficient and effective and eventually we can’t rule anything out. Our base scenario is to grow organically.”