VADUZ (Reuters) - Banks need to cooperate more to boost efficiency in areas where they do not need to provide services themselves, UBS (UBSG.S) Chief Executive Sergio Ermotti said on Thursday, suggesting bourse operators, infrastructure groups or technology outfits may be possible partners.
“I have addressed this many times and there is progress in this area but it is going too slowly,” he told the Finance Forum Liechtenstein conference, urging banks to think big and be proactive before it was too late.
Asked about how long he intended to stay atop UBS he said he was still enjoying his work. “With a bit of masochism it is fun,” he said in response to a question.
Reporting by Angelika Gruber, Editing by Michael Shields