0932 GMT - UBS Group CEO Sergio Ermotti expects uncertainty on Switzerland's plans to update capital requirements for the bank to ease, but not end, in May. A public consultation on the plan--part of an update of Swiss "too big too fail" banking laws--is likely to be launched toward the second half of May, Ermotti tells at a Morgan Stanley conference in London. "I'm not so sure that in May it's going to be crystal clear, the outcome, but we're probably going to see a little bit more of a reduced uncertainty by May," he says. Absent an unexpected and immediate outcome of the law review, Ermotti says UBS remains confident about its 2025 buyback plans. The Swiss bank aims to buy back up to $3 billion of its own stock this year. Shares fall 2.5%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 05:32 ET (09:32 GMT)
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