Ermotti Sees Good Momentum in Recovering Credit Suisse Funds
- UBS CEO says almost impossible to recapture all lost funds
- Investors are more constructive, Ermotti says in Beijing
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UBS Group AG Chief Executive Officer Sergio Ermotti said he’s seeing “good momentum” this quarter in regaining funds that clients pulled from Credit Suisse before the takeover, even if recovering all of the roughly $200 billion that clients pulled isn’t likely.
“It’s going to take a few quarters to regain a good chunk,” Ermotti said in an interview with Bloomberg Television in Beijing on Monday. “Getting back everything is going to be almost impossible, but our aim is to recapture as much as possible.”