UBS to Bolster U.S. Operations as Swiss Capital Bill Looms, CEO Says
UBS Chief Executive Sergio Ermotti said the bank needs to expand its presence in the United States and is preparing for any outcome from a Swiss parliamentary debate on proposed tougher capital rules. Speaking in St. Gallen, he reiterated that growth in the U.S. could occur without a takeover, while acknowledging acquisitions remain a possibility. …