UBS reducing proprietary trading, more focus stocks -Weber
January 24, 2013 8:35 AM EST
The chairman of Swiss bank UBS
The investment bank division of UBS "will be a lot more client-focused, less complex, less risk-taking, and doing much less proprietary trading," Weber told CNBC in an interview from Davos, Switzerland.
Weber also said UBS has invested more in stocks and corporate bonds, for which he sees upside.
"We have been moving to an overweight of equity," he said.
(Reporting by Sam Forgione)
Most Popular Slideshows
Join the Conversation
- Chilling: New ISIS Video Addresses Australia; Aussie Teen Delivers Message
- The Pirate Bay Blockade: Cost Of Blocking Websites Like TPB Is Ridiculously High
- Xiaomi Mi4 And MiPad Prices Likely Slashed, Thanks To Rivals Oppo, OnePlus And Meizu
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- Meizu MX4 Pro To Arrive In November In Black And White Colours, Features Higher Than QHD Display, Exynos 5430 SoC And 3 GB RAM
- Israel Loses A Friend in UN Security Council As New Zealand Replaces Australia
- Severe iPhone 6 Supply Shortage Will Last Until Q1 2015 as Apple Grapples to Meet Heavy Demand