September 4, 2019 / 10:44 AM / 13 days ago

UBS looking at ways to cooperate with other banks, CEO says

FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann

FRANKFURT (Reuters) - UBS (UBSG.S) Chief Executive Officer Sergio Ermotti said on Wednesday that the bank was looking at cooperating with other banks as a way to deal with the challenges of the industry.

Speaking at a banking conference in Frankfurt, Ermotti said that the lender wasn’t only looking at mergers with other banks. “We are also looking at how we can cooperate between banks in the front-to-back value chain in a complementary way,” he said.

Reporting by Tom Sims; Editing by Tassilo Hummel

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