WSJ: Grubel demands hard work to restore UBS - Spear's Magazine

WSJ: Grubel demands hard work to restore UBS

ZURICH — UBS AG’s organizational and operational restructuring is on track, but the Swiss bank’s efforts to renew client trust will require long and hard work, Chief Executive Oswald Grübel said.

ZURICH — UBS AG’s organizational and operational restructuring is on track, but the Swiss bank’s efforts to renew client trust will require long and hard work, Chief Executive Oswald Grübel said.

In a memo sent Tuesday to the bank’s staff of more than 70,000, Mr. Grübel said that “returning the group to profitability will only be the beginning.” He warned that “the recovery of our reputation will require hard work and relentless effort.”

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