UBS CEO Ermotti Sees US Acquisition as Option for Growth (3)

UBS Group AG Chief Executive Officer Sergio Ermotti said he doesn’t exclude buying another firm as a way to boost the lender’s business in the Americas.

“We may want to do an acquisition. I don’t know about any big organizations that can rule out acquisitions,” Ermotti said at a conference in the Swiss town of St. Gallen on Wednesday. UBS doesn’t necessarily need a deal to achieve its expansion goals, which include growing wallet share among US clients, he added.

UBS CEO Sergio Ermotti

Source: Raul Ariano/Bloomberg

The bank has been working for years to turn around its wealth business in the US. Last month, the ...