UBS CEO Ermotti Sees Acquisition as an Option for US Growth

UBS Group AG Chief Executive Officer Sergio Ermotti said the firm “cannot rule out” an acquisition when looking at growth paths for its business in the Americas.

“We may want to do an acquisition. I don’t know about any big organizations that can rule out acquisitions,” Ermotti said at a conference in the Swiss town of St. Gallen on Wednesday. UBS doesn’t necessarily need a deal to achieve its expansion goals, which include growing wallet share among US clients, he added.