UBS’s Ermotti Says Investors Need Returns as Capital Issues Fade
- Ermotti says ‘we’re there’ on capital position, legacy costs
- Shareholders waiting to see returns via dividends, buybacks
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UBS Group AG Chief Executive Officer Sergio Ermotti signaled that the world’s largest wealth manager has resolved its capital and legacy costs and shareholders’ focus is turning to returns.
“Investors are waiting for the time in which the capital buildup to fulfill regulatory requirements is over and the costs associated with legacy matters is addressed,” Ermotti said in a Bloomberg Television interview in New York. “We’re on a good path, we are almost there, actually we are there. Now people need to see the cash flow coming back through dividends or share buyback. ”