UBS CEO says second-quarter investment bank performance in line with industry

FILE PHOTO: CEO Sergio Ermotti of Swiss bank UBS gestures as he attends the company's annual shareholder meeting in Basel, Switzerland May 2, 2019. REUTERS/Arnd Wiegmann - Copyright ARND WIEGMANN(Reuters)

By Reuters

Published on 06/06/2019 - 11:34•Updated 16/04/2024 - 09:28

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ZURICH (Reuters) - UBS's investment bank has performed in line with the industry so far this year, Chief Executive Sergio Ermotti said at a conference on Thursday.

"The performance in Q2 and Q1 of our investment bank was not dissimilar to the rest of the industry, and in that sense of course, it is also a reflection of our strategic goals and our capabilities," Ermotti said at the Goldman Sachs European Financials Conference. "We are highly skewed towards Europe and Asia and less so (towards) the US."