UBS Unveils Plans For Leaner Investment Bank

Law360, New York (November 17, 2011, 8:44 PM EST) -- Recently rocked by a $2.3 billion rogue trading scandal, Swiss banking giant UBS AG on Thursday rolled out plans to trim its investment bank business as it moves to strengthen its wealth management businesses and increase shareholder returns.

UBS says its investment bank will be more focused and less complex, and that it's targeting a reduction in its risk-weighted assets of almost 50 percent from about $326 billion to about $158 billion. The bank had previously announced its intention to revamp that business area.

UBS has...
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