UBS CEO Considers Spending Cuts Amid Iran Conflict

UBS CEO Sergio Ermotti has indicated that the ongoing conflict in Iran may necessitate a reduction in the bank's expenditures. Bloomberg posted on X, Ermotti emphasized that while spending adjustments might be required, the bank's core strategy will remain unchanged. The situation in Iran is being closely monitored by UBS as it evaluates the potential impact on its operations and financial planning. Despite the challenges posed by the conflict, Ermotti reassured stakeholders that the bank's long-term objectives and strategic direction will not be fundamentally affected.