Ermotti Says UBS Drops Net New Money Target for Wealth Management

Jan.21 — UBS Group AG Chief Executive Officer Sergio Ermotti discusses wealth management outflows and the challenge of operating in a negative rates environment. Ermotti speaks with Bloomberg’s Manus Cranny from Zurich as the bank missed key profitability and cost targets for 2019, underscoring the challenge for new wealth management co-head Iqbal Khan as he seeks to turn around the lender’s most important business.

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