UBS announces strategic acceleration from a position of strength
- UBS reinforces commitment to deliver more sustainable and attractive returns; significantly reshaping its Investment Bank
- Group Basel III RWAs¹ targeted to be reduced further to below CHF 200 billion by end 2017; Investment Bank will operate with Basel III RWAs of less than CHF 70 billion effective 1.1.13
- Group-wide efficiencies targeting incremental CHF 3.4 billion annual cost savings with total savings of CHF 5.4 billion by 2015; UBS investing CHF 1.5 billion across all of its business divisions
- With immediate effect, Andrea Orcel to lead the Investment Bank; Carsten Kengeter to step down from Group Executive Board and lead management of exited Investment Bank businesses and positions
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