UBS chief plans to rein in investment-banking division

10/19/2011 | Wall Street Journal, The · Reuters

Sergio Ermotti, interim CEO at UBS, decided not to spin off or sell the Swiss firm's investment-banking unit but will shrink and overhaul it. UBS plans to concentrate on its wealth-management business. The company spent billions building its investment bank to make it a global competitor.

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Wall Street Journal, The · Reuters

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