The CEO of UBSToday, Sergio Ermotti, was in favor of carrying out a “complete investigationabout the causes that led to the fall of Credit Suisseacquired by the first of these banks in March, and stated that the investigations should go back to years of efforts.
“It is crystal clear that the situation has not been triggered in the last six weeks, but in the last six or seven years”, affirmed the CEO Ermottiquoted by the Swiss news agency ATS, in a meeting with journalists and directors of the country’s media outlets.
The Swiss manager, appointed to head UBS ten days after the acquisition and precisely with the aim of directing the merger of the two banks, stressed that it is still on the right track and could conclude in about three months, despite the fact that under normal circumstances the operation could have taken a year.
Asked about the size that UBS will acquire with this merger, with a market volume that will double the Swiss GDP, ermotti He defended that attention should not be focused on the potential of the bank but “in the new dimension of Switzerland as a financial center”, in a context of increasing competition with others in the world.
On the other hand, the CEO defended the recent inclusion in the board of directors of UBS of his counterpart at Credit Suisse, Ulrich Körnerassuring that it is important for the integration of these banks, and recalling that he previously worked at UBS.
Source: EFE
Source: Gestion
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