UBS CEO Eyes Private Buyer in Hypothetical Recovery Scenario, Touts As One Of The World's Safest Large Banks: Report

UBS Group AG UBS has reportedly claimed to be one of the world's safest large institutions.

"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," the bank's CEO Sergio Ermotti said in a Swiss Risk Association event, as noted by Reuters.

Would UBS need to be recovered, Ermotti said a "private buyer" would continue to be preferable, the report adds.

"Of course, this would likely entail an international buyer," Sergio said, which Reuters noted.

The chief executive of Switzerland's biggest bank called for enhanced regulatory measures, including bolstering supervisors' early intervention tools.

Ermotti suggested that Switzerland should adopt clearer senior management responsibilities akin to those in the UK and emphasized the need to revise the international liquidity framework for the digital banking era, Reuters added.

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Price Action: UBS shares closed higher by 0.92% to $26.33 on Friday.

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