Swisscanto's Winet Says UBS Woes May Hit Private Banking
- 00:05:38
- Bloomberg
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Swisscanto's Winet Says UBS Woes May Hit Private Banking
Dieter Winet, a fund manager at Swisscanto Asset Management, talks about UBS AG's first-quarter investment-banking losses, the outlook for the private banking unit, job cuts and share price. The 5,500 job cuts announced at UBS today are on top of 48,000 reductions by the world's biggest banks and securities firms in the past year, as writedowns and losses from the U.S. subprime crisis swelled to $319 billion. Winet, who helps oversee 63 billion francs ($60 billion) at Swisscanto, speaks with Bloomberg's Elliott Gotkine and Mark Barton from Zurich. (Source: Bloomberg)
Bloomberg | May 6, 2008
