UBS CEO: private buyer preferred outcome in case of rescue

UBS is one of the world’s safest large institutions, the Swiss bank's CEO said while speaking at a Swiss Risk Association event on Wednesday.

UBS is one of the world's safest large institutions, the Swiss bank's CEO said while speaking at a Swiss Risk Association event on Wednesday. "Even in the unlikely event of something going wrong at UBS, we have enough cushion before even speaking about a resolution of the bank and its very unlikely risk of a loss for the taxpayer," Sergio Ermotti said.

Would UBS need to be rescued, Ermotti said a private buyer would continue to be preferable. "Of course, this would likely entail an international buyer," the CEO said.