UBS CEO against reducing bank's size in face of regulatory concerns

UBS CEO Sergio Ermotti on Friday rejected reducing the bank's size amid pressure to do so from Swiss regulators following its emergency takeover of Credit Suisse.

Ermotti told a business conference on Friday he was hopeful a "sensible solution" could be found on regulatory matters which are currently under discussion in Bern, but shrinking the bank was not a strategy for UBS.