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BRIEF-UBS CEO: considering multiple spots for post-Brexit EU hub
April 28, 2017 / 8:55 AM / 8 months ago

BRIEF-UBS CEO: considering multiple spots for post-Brexit EU hub

April 28 (Reuters) - UBS Group Ag

* CFO says expects wealth management cross-border outflows to continue this year at same level as last year, with peak in Q4

* CFO says expect profits in Swiss business to decrease from current levels, expects quarterly pre-tax profit in short- to medium-term to be in region of 350 million Swiss francs

* CEO says bank remains committed to strategy and returns policy

* CFO says expects optimism to continue showing in heightened U.S. transaction activity

* CEO says no updates on situation with U.S. Department of Justice on settlement of RMBS matter

* CEO says will decide on future of banks’ British operations in response to Brexit towards end of summer, beginning of fall

* CEO says looking at other potential locations besides sites in Frankfurt and Spain as possibilities for the bank’s new European Union hub

* CEO says Britain not helping industry to keep jobs in London, do see forced to possibly trigger contingency plans

* CEO says have to be realistic that French election still an open item, have seen rapid changes in voter sentiment

* CFO says hard to assess impact of U.S. administration’s provisional tax plan due to a “complete lack of detail” Further company coverage: (Reporting by Brenna Hughes Neghaiwi)

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