Gruebel Says He Knows What He’s Doing as UBS Increases Risks
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UBS AG Chief Executive Officer Oswald Gruebel assured investors in London that the management of Switzerland’s biggest bank knows what it’s doing as it prepares to step up risk-taking two years after a record loss.
“Risk is our business,” Gruebel said in London today. “I can assure you, as long as I’m here, as long as my colleagues are here, we do know about risks, we know that we need to take risks to make money. We’re all shareholders as well; we have as much interest as you to get the share price up.”