UBS CEO Ermotti predicts ‘bumpy’ months as Credit Suisse deal closes
Sergio Ermotti
UBS will see its workforce, costs and balance sheet swell next week when the Credit Suisse deal likely closes, prompting it to weigh deep cuts to staffing levels and wind down riskier assets.
UBS Group Chief Executive Sergio Ermotti said the firm is gearing up for a tricky few months as it works on the complex integration of Credit Suisse Group.
“We can make something good out of a not ideal situation,” Ermotti said at a conference in the Swiss town of Interlaken Friday. “But
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