The bank is targeting cost savings of a billion Swiss francs ($1.07 billion) by next year with further cuts in the years after that.
“We
believe we should be in mode of driving business more efficiently. We
have cut 2 billion Swiss francs in the last year and we can take another
billion in 2013 and [we have] set further targets for 2014 and 2015. We
want to drive that efficiency and we are in a volatile revenue
environment and that’ll be the case for the industry for some time,”
Dougan said.
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