UBS AG (UBSN), Switzerland's biggest bank,
boosted a profitability idea and announced skeleton for about
10,000 pursuit cuts as Chief Executive Officer Sergio Ermotti moved
to cringe a investment bank and concentration on resources management.
UBS will find a lapse on equity, a magnitude of
profitability, of during slightest 15 percent starting in 2015, compared
with a prior idea of 12 percent to 17 percent, a Zurich-
based bank pronounced today. It will revoke staff by some-more than 15
percent to about 54,000 over 3 years to assistance save an
additional 3.4 billion Swiss francs ($3.6 billion).
Ermotti is overhauling a bank as Swiss collateral rules,
among a strictest in a world, make it formidable for UBS to
compete with firms like Deutsche Bank
Read full article: http://www.techradar.com/news/mobile-computing/tablets/phil-schiller-ipad-mini-is-not-too-expensive-1107074
Source:
http://www.news.ezonearticle.com/2012/10/30/ubs-raises-profitability-target-as-ermotti-shrinks-bank/
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