video transcript

UBS is laying the foundations for a rebuild of its investment bank have a job is on -- says Roy is breaking views. With me now to discuss that side is the bank economists Dominique -- us. There's just got a call would you be calm. But it's on track. It is on track kids I think UBS has made. Excellent progress it had about the group had about 300 billion Swiss francs in in risky passes at the end of last year. Now it's down to about 258 it's told it is to get to it. 200 -- 2017 the end of twenty some teams and it's it's already halfway then that's that's just a year and giving them the benefit but now. Why I mean you know I think they're doing very well senator we'll have to see I mean this is the starts. They've they've -- radical the all the foundations laid and now it's all about. Whether they can execute over the next few years that they -- -- time to do and what. On the other side of wealth management -- -- was -- -- -- -- that's right I mean the margins is down and margins how you make money in and wealth management. That's partly because interest rates globally. So little time lies so that has made it very Hoffman but they'll have taken less money. From condoms than than they -- you money that is. -- -- just -- US has been a bright spots in the idea why why -- the US been doing so. Welcome question on I think is probably because they managed to put to bed some of the tax issues that would. Surrounding them I'm making quick to move on that maybe some of the other Swiss banks. But you know I I think maybe. The switch -- united it's this is also a story about recovery the US is recovering. More quickly. -- What what what again I know we we can't go -- Off the record cold but what more do you believe they won't do over the next twelve months to get the investment banking business with -- But I think it's a bounce trying to make sure that the right people so they've already made some line is that going to try and make sure that if you mole. Name they need to see if they can. Convince clients that actually this new look investment bank can do all the things that -- -- rather compact has continued. But just isn't going to use as much Balanchine and I was always the pink and Chick Flicks can. Well I mean safari is get a minute account to markets and advisory revenues have held up strongly now -- of the business that they've. -- a way of obviously and in the revenues that have have slumped and all but it's not as much as some honest with fearing. -- that doesn't have to be a fairly solid proposition -- -- -- was he more complex and Amos. You'll see a normal stall coming to face today. I mean half a very small fraction of the 101000. Or so install things about some 6000 from the -- and by the -- you -- Two guys who have gone and that there will be a lot more of those stuff going -- at the time. So just to finish with. The numbers out this morning yes wealth management is disappointment that what that what -- bright spots but. Generally speaking you feel pretty bullish about whether this is kind -- -- What they've done is fickle this very strong capital position and they -- homicide -- -- -- to the how to get one anyway another cardinals have risk. The capital position is sort of. Is suddenly industry -- side just gives them the confidence they can play around the bed and and then off to war. Okay great company thanks for much of it don't -- yet. From breaking views -- what -- US show. That comes on every -- twelve birdies in 1730 GMT. You can read the full UBS breaking news story on the -- b.'s website of course an axle problems sources.