UBS chairman: merger with CS brings significant execution risk

Merging UBS and Credit Suisse brings significant execution risk, which incoming Chief Executive Sergio Ermotti is suited to handle due to his background, said UBS Chairman Colm Kelleher at a news conference on Wednesday.

"The number one priority is to stabilize the situation," Kelleher said, adding that shareholders saw an upside in the transaction but were concerned about execution risk.