UBS CEO says mergers can help strengthen Europe’s banks

FRANKFURT, Nov 15 (Reuters) – UBS CEO Sergio Ermotti said Europe needs stronger banks and that this could be achieved through mergers.
“It’s crystal clear that Europe needs to have stronger banks and the way to achieve that is only possible allowing consolidation in the industry,” said Ermotti.
Reporting By Stefania Spezatti; editing by John O’Donnell
Our Standards: The Thomson Reuters Trust Principles.