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UBS Picks Frankfurt Hub as Bank Prepares for No-Deal Brexit

  • Bank has previously said its Brexit bill will be $100 million
  • CEO says that U.S.-China trade war is biggest global risk
Bloomberg business news
UBS Group AG Chief Executive Officer Sergio Ermotti talks on Daybreak: Asia about the impact of Brexit.Source: Bloomberg
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UBS Group AG has picked Frankfurt as its post-Brexit European Union hub and has made preparations for the worst-case scenario of Britain crashing out of the bloc without a deal, Chief Executive Officer Sergio Ermotti said.