ZURICH, Nov 22 (Reuters) - UBS is one of the world’s safest large institutions, the Swiss bank's CEO said while speaking at a Swiss Risk Association event on Wednesday.
"Even in the unlikely event of something going wrong at UBS, we have enough cushion before even speaking about a resolution of the bank and its very unlikely risk of a loss for the taxpayer," Sergio Ermotti said.
Would UBS need to be rescued, Ermotti said a private buyer would continue to be preferable.
The head of Switzerland's largest bank also advocated for certain regulatory improvements including strengthening the tools for early intervention by supervisors.
Reporting by Noele Illien; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.
Persons:
Sergio Ermotti, Ermotti, Noele, Jonathan Oatis
Organizations:
UBS, Swiss, Swiss Risk, Thomson
Locations:
ZURICH, Switzerland