Deals
UBS Eyes Small Deals as Ermotti Builds on Bank's Push in Wealth
- UBS said to seek purchases of wealth management assets
- Bank sees China as next step in wealth management growth
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UBS Group AG is considering small acquisitions to complement its focus on organic growth as it reverses a shrinking of assets following the financial crisis.
“Our focus is on organic growth. Of course we look at small acquisitions here and there to complement our portfolio,” Chief Executive Officer Sergio Ermotti told Bloomberg TV on the sidelines of the China Development Forum in Beijing on Saturday. However, these would be “nothing extraordinary compared to what we already did in the last couple of years,” he added.