Sergio Ermotti News
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UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, a day after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank.
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UBS AG should consider splitting its investment bank from the wealth management and Swiss banking businesses, shareholder Knight Vinke Asset Management LLC said.
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UBS AG, Deutsche Bank AG and Lloyds Banking Group Plc posted profit that topped analysts’ estimates in a sign Europe’s largest lenders are rebounding from the financial crisis after years of job cuts, loan losses and capital raising.
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UBS AG, Switzerland’s biggest bank, reported first-quarter earnings that beat analyst estimates on higher revenues at the investment bank and in wealth management.
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Credit Suisse Group AG will probably post higher profit than UBS AG for a fourth straight quarter when the largest Swiss banks report results over the next week.
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When UBS AG wealth manager Abdallah Najia came to Switzerland from Dubai in March for a week of training, he was as stunned by the message as by the scenery.
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President Barack Obama discussed ways to bolster business confidence and economic growth during a White House meeting with heads of the world’s biggest banks, including Goldman Sachs Group Inc.’s Lloyd C. Blankfein and JPMorgan Chase & Co.’s Jamie Dimon.
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President Barack Obama is meeting today with 15 heads of the world’s biggest banks, including Goldman Sachs Group Inc.’s Lloyd C. Blankfein and JPMorgan Chase & Co.’s Jamie Dimon, White House officials said.
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UBS AG Chief Executive Officer Sergio Ermotti’s 2012 pay of 8.87 million Swiss francs ($9.3 million) was dwarfed by the 24.9 million francs in cash and stock investment bank head Andrea Orcel got on joining the bank.
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UBS AG, Switzerland’s biggest bank, said its board of directors confirmed Sergio Ermotti as chief executive officer, less than two months after he replaced Oswald Gruebel on an interim basis.
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