'Lose-lose situation': New Swiss bank laws could derail UBS' challenge to Wall Street giants – CNBC
Sergio Ermotti, CEO of major Swiss bank UBS, attends the group’s annual general meeting in Zurich on May 2, 2013. Fabrice Coffrini | AFP | Getty Images Switzerland’s tough new banking regulations create a “lose-lose situation” for UBS, limiting its chances of competing with Wall Street giants, said Beat Wittmann, a partner at Zurich-based Porta […]