UBS AG (UBS) announced that the continuing transformation of UBS and the execution of business strategies presented to investors will enable UBS to meet specific goals over the medium term or 3-5 years. UBS said that it aims to achieve approximately 15 billion Swiss Francs of annual profit before tax, a cost-to-income ratio of 65-70% and a return-on-equity of 15-20%.
UBS Group Chief Executive Officer, Oswald Grübel, said: "Our strategy represents an evolution in terms of our business portfolio but a revolution in terms of the way we will operate. UBS has great businesses and distinctive strengths that we will build on. We combine the world's leading wealth management firm and the number one full-service bank in Switzerland with a global investment bank and a global asset manager. We have made tremendous progress in increasing our capital and positioning the Group for renewed growth, but work remains to be done."
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