'What I hear UBS saying in their presentations is, ‘If I’m an affluent customer, I’ll feel a lot better about going to UBS knowing that they have a 13% capital ratio than another big bank with a 10% ratio', said Mayo. 'Do you agree with that or disagree ?'
Dimon countered, 'So you would go to UBS' rather than JPMorgan ?
'I didn’t say that', Mayo responded. 'I said that was their argument'.
'That’s why I’m richer than you', Dimon said, drawing laughter from the audience.
Chu speaks on Bloomberg Television's Street Smart.