UBS Targets Lost Credit Suisse Assets After Record Profit (1)

In his first quarter at the helm of UBS Group AG, Sergio Ermotti posted a profit for the history books after the bank’s emergency acquisition of Credit Suisse.

Now comes the hard part: Winning back over $200 billion in assets that Credit Suisse clients had pulled in the quarters preceding its takeover by UBS.

“We are counting on taking back as much as possible of the 200 billion that we lost in the last few quarters,” Ermotti said in an interview with Bloomberg TV.

UBS Chief Executive Officer Sergio Ermotti discusses the bank’s strategy

Source: Bloomberg

Ermotti, who returned to UBS in April to oversee one of the biggest ...