Kelleher was delivering a speech during the UBS annual general meeting — the first such gathering held since the bankcompleted the takeoverof its former rival Credit Suisse last summer. "UBS is not too big to fail. UBS is one of the best-capitalized banks in Europe, with a sustainable bus...
we went from the Wright Brothers to men on the moon in less than seven decades. After thousands of years of slow and incremental innovations in warfare, human beings are now capable of killing every person on the planet.
He emphasized that UBS was “not too big to fail” and was “one of the best-capitalized banks in Europe,” with financial resources to absorb losses in excess of $200 billion. “Trust cannot be regulated. It was not too-low capital requirements that forced Credit Suisse into the historic...