UBS Chairman hints at earlier departure

Exit Sign

UBS chairman Axel Weber has hinted he may not stay at the Swiss bank as long as originally expected, in a newspaper interview linking his future with the lender's ability to meet stricter regulation as well as to restructure by end-2015.

'My work here is done when the bank is prepared for the new regulatory requirements and we have successfully implemented our strategy', Weber told German weekly Die Zeit, in an advance print made available earlier this week.

Reuters reports that Weber's comments represent a subtle shift for the 56-year-old former head of Germany's central bank, who responded to criticism of his $4.5m signing-on fee in 2012 in part by saying he was looking to stay with UBS roughly 10 years.

Weber, who as a central banker spoiled his chances of becoming European Central Bank chief by criticising ECB policies, said he does not plan a return to public service.

'We will see, I don't have a master plan', he is quoted.

Hit the link below to access the complete Reuters article:

UBS chairman hints at departure earlier than expected - paper

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