UBS CEO says working to settle litigation cases
[ZURICH] UBS is working hard to settle litigation cases and hopes to give a further update soon, the Swiss bank's chief executive will tell investors at an annual shareholder meeting on Thursday.
"We are working intensively on finding the best possible solutions to a number of important pending cases in the near future, and hope that we will be able to say more on this soon," Chief Executive Sergio Ermotti will tell the bank's annual general meeting, according to prepared remarks.
Zurich-based UBS said on Tuesday it is in advanced talks with the US Department of Justice to settle allegations of foreign exchange market rigging.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
US holds quarterly debt sale steady, starts buybacks this month
Binance founder Zhao Changpeng gets four months in prison
Citigroup sees loan book hit in climate action ramp-up, document shows
Actively managed funds ‘bleed’ client cash in ESG upheaval
UAE's top bank FAB beats Q1 profit estimates
Bitcoin faces worst month since FTX crash with ETF demand cooling