UBS Vows to Stand By Strategy After Swiss Capital Demands
UBS Group AG said it won't change it's strategy after the Swiss government proposed strict new rules that could see the bank hold up to $26 billion in fresh capital.
'We will not back down from our globally diversified business model, which makes us safer and more resilient, especially during turbulent times like these,' Chairman Colm Kelleher and Sergio Ermotti, the firm's chief executive officer, wrote in a memo to staff seen by Bloomberg.
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