UBS Won't Have to Raise Capital Again: CEO
UBS CEO Marcel Rohner said that the bank was now protected against all scenarios and would not have to hike capital again after a large capital injection.
Speaking at an investors' conference on Tuesday in London, Rohner said: "We're now strong enough that we do not have to raise (capital) again. We can protect ourselves against all scenarios."
The Swiss-based bank on Monday announced writedowns on subprime mortgage exposures and a capital injection from the Government of Singapore Investment Corporation (GIC) and an unnamed Middle East investor to bolster its sagging balance sheet.