UBS CEO Ermotti Says Share Buybacks ‘Paused, Not Canceled’
- CEO says bank won’t compromise balance sheet, liquidity
- Ermotti reiterates intention to have progressive dividend
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UBS Group AG Chief Executive Officer Sergio Ermotti said the lender’s share buyback plans are temporarily suspended and not canceled as it grapples with the huge integration of Credit Suisse Group AG.
Ermotti, who returned to lead the bank through the emergency takeover, said that it’s still too early to say when buybacks will resume, and that it needs more visibility on the numbers and plans related to the deal. He spoke in a Bloomberg TV interview on Tuesday.