UBS CEO Sergio ##isse has revealed the bank has no plans to spin off or list parts of its business like its rival credit Suisse is preparing to do for its Swiss universal bank by the end of 2019 . As we previously noted , Credit Suisse said in October it planned to list a minority stake in the unit , which is part of its private banking and corporate and institutional clients business in Switzerland , as part of a contrary strategic plan that also includes job creation , venture capital and cutting back private banking .
UBS CEO Sergio Ermotti has revealed the bank has no plans to spin off or list parts of its business like its rival Credit Suisse is preparing to do for its Swiss universal banking by the end of 2016. As we previously noted, Credit Suisse said in October it planned to list a minority stake in the unit, which includes part of its private banking and corporate and institutional clients business in Switzerland, as part of a contrary strategic plan that also includes job cuts, raising capital and cutting back investment banking.