When UBS AG Chief Executive Officer Sergio Ermotti announced 10,000 job cuts in 2012, he put hundreds of staff on leave the same day. Since then efforts by Switzerland’s biggest bank to cut costs and boost profit slowed.
Antony Jenkins replaced Robert Diamond as Barclays Plc chief executive officer 19 months ago, pledging to control costs at the investment bank and boost returns. So far, both goals are eluding him.
UBS AG, Switzerland’s largest bank, said it plans a special payout for investors on top of higher dividends after it reaches capital targets this year. The shares rose.
"This shows that Deutsche Bank still has a lot of work to do to comply with new rules for foreign banks in the U.S.."
- Christopher Wheeler on Jul 23, 2014
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