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UBS says focused on restoring "honour" after scandals
January 9, 2013 / 10:06 AM / 5 years ago

UBS says focused on restoring "honour" after scandals

LONDON, Jan 9 (Reuters) - UBS is determined to restore the “honour and the standing” of the Swiss bank and repair the damage from a string of scandals in recent years, its investment bank boss told British lawmakers on Wednesday.

“It’s a journey where the whole executive board and board are very focused at recovering the honour and the standing that the organisation had in the past,” said Andrea Orcel, UBS’s investment bank chief executive since November.

Orcel and other UBS executives were appearing before Britain’s Parliamentary Commission on Banking Standards after the Swiss bank was last month fined $1.5 billion for rigging Libor interest rates and a string of other scandals.

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