UBS Exiting Unpromising, Risky Business

UBS Exiting Unpromising, Risky Business

People Corporate & Sovereign Strategy

Disappointing words from UBS CEO Oswald Grubel in a pre-announcement on Q1 results are accompanied by vague and ominous talk of getting out of some areas as the bank targets further cost-saving. “UBS will exit high-risk and unpromising businesses. The bank is currently conducting a review to make clear decisions about which businesses it will remain active in and grow, and which it will exit,” says the CEO. A spokesman at the bank declines to comment on what, if anything, that means for LatAm. B

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