Reuters reports that CEO Sergio Ermotti is winding down much of UBS's riskier investment banking arm and believes a return to managing money for the global rich will allow it to earn its way out of trouble.
But the jewel in the crown of the disgraced bank will only keep its lustre if it maintains the trust of millionaires keen to park their fortunes in the safest possible hands.
'UBS has been involved in an endless series of incidents in the last couple of years and it will take some time - several years without more damaging news - to restore trust', said one Zurich-based investment manager with a stake in the bank.
Hit the link below to access the complete Reuters article:
UBS faces fight to uphold reputation among super-rich
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
