Deals
Ermotti Says UBS Not Considering Investment-Bank Spinoff
This article is for subscribers only.
UBS AG Chief Executive Officer Sergio Ermotti dismissed speculation that Switzerland’s biggest bank will spin off its investment-banking business to meet regulators’ demands for holding more capital.
“We are not considering that option,” Ermotti, 53, said in an interview with Stephen Engle on Bloomberg Television in Shanghai today. “We have very defined assets and capital that we want to put at work in the investment bank, and the business model works. Therefore, there is no necessity for us to make changes.”