UBS boss signals more right-sizing

'We will adjust our business in order to achieve the results which we have planned'.

UBS will need to adjust its investment banking business to the tough market conditions this year in order to achieve its targets, the bank's investment banking head told German weekly WirtschaftsWoche.

"I'm a realist, the market environment is very challenging," Andrea Orcel was quoted as saying in the summary of an interview published on Thursday. "We will adjust our business in order to achieve the results which we have planned."

Reuters reports that he also said UBS saw growth opportunities in the United States, described by Orcel as the most important market, as other players retrench. 

To access the complete Reuters article hit the link below:

UBS IB head says need to adjust to challenging market-WirtschaftsWoche

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