UBS CEO Ermotti Defends Bank Amid First Brands Fallout
UBS Group AG Chief Executive Officer Sergio Ermotti defended his bank against criticism over exposure to bankrupt auto parts supplier First Brands Group.
“There is a little bit of witch hunting,”
Ermotti said in a Bloomberg TV interview, adding that investors were aware of the higher-risk strategies. He noted that comparing banks and strategies is totally inappropriate
.
The failures of subprime auto lender Tricolor Holdings and First Brands have highlighted credit losses, with JPMorgan Chase & Co. CEO Jamie Dimon warning of potential similar cases.
Author's summary: UBS CEO defends bank amid criticism.
More News
- Fantastic session for England, 16-run lead
- FTSE 100 Live: Stocks Regain Composure After Latest AI Wobble
- Piers Morgan Uncensored Update
- Sky News halts show for major breaking Piers Morgan …
- Stevie Nicks praises healing power of music
- The AI Trade Has Powered Wall Street Through Bitcoin’s Wobble. It Sets Up a December Rally.
- The one singer Stevie Nicks felt the world
- Crossing the Buyout Value Bridge as Valuations Wobble
- Which Stevie Nicks Song Matches You, According to Birth Date
- Jah Wobble: Metal Box