© Reuters.
The CEO of UBS Group AG (SIX:), Sergio Ermotti, has noted a promising trend in the recovery of funds that were previously withdrawn by clients from Credit Suisse prior to its acquisition. This observation was shared during an interview conducted in Beijing on Monday.
Ermotti remains uncertain about the possibility of retrieving the entire approximate $200 billion that was removed. However, he suggested that a substantial portion of the funds might be recouped over several financial quarters. Despite acknowledging that a complete recovery might be virtually unattainable, Ermotti’s goal is to regain as much of the lost funds as feasible.
The CEO’s comments indicate that while full recovery might be a challenging task, there is a positive progression towards regaining a significant portion of the funds. This development is crucial for UBS Group AG as it aims to restore stability and confidence following the acquisition of Credit Suisse.
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