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UBS Exclusive: Ermotti’s $5bn Shedding Plan Explained

UBS Group has suffered significant losses in client assets as a result of Credit Suisse’s departure of about 500 client advisors over the past year.

Sergio Ermotti, CEO of UBS Group, addresses challenges and measures taken following Credit Suisse employee departures. PHOTO: Christian Beutler / Keystone
Sergio Ermotti, CEO of UBS Group, addresses challenges and measures taken following Credit Suisse employee departures. PHOTO: Christian Beutler / Keystone

The loss amounts to a staggering $20 billion. Although more outflows are anticipated, UBS CEO Sergio Ermotti has stated that they will not be as substantial as what has already occurred.

Following the unveiling of the Credit Suisse emergency takeover in March,

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