UBS interim CEO Sergio Ermotti will push for new cuts instead of a sale or spinoff of the...

|About: UBS Group AG (UBS)|By:, SA News Editor
UBS interim CEO Sergio Ermotti will push for new cuts instead of a sale or spinoff of the investment bank. Ermotti's main focus is viewed as returning the bank to the relatively low-risk, high-margin business of global wealth management. The front-runner to become the permanent CEO is expected to announce a sweeping plan to shrink the size and scope of the Swiss bank at an investor meeting on Nov. 17.