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)