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UBS to further cut back Investment Banking |
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UBS’s Chief Executive Officer, Marcel Rohner, said at the annual shareholder meeting in Basel (23 April, 2008) that UBS will ``no longer aim to offer everything to everyone in investment banking…''
The announcement was seen as an attempt to placate activest investors who had proposed the segregation or disposal of the Investment Bank. The securities unit will have to generate capital for future growth and ``surpluses from the wealth management business will be returned to shareholders through dividends or share buybacks,'' Rohner said.
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