UBS Chief Ermotti Doesn’t See Cultural Clash With Credit Suisse

UBS Group AG’s chief executive officer pushed back against suggestions that cultural differences between his bank and Credit Suisse are complicating the integration of the former rival.

“I don’t think that per se there is a cultural clash between the two organizations,” Sergio Ermotti said at the Bloomberg New Economy Forum in Singapore on Thursday. “We have been competing very fiercely but basically, more or less, with the same business model.”