UBS Could Slow Investments on Iran War Uncertainty, Ermotti Says

UBS Group AG Chief Executive Officer Sergio Ermotti said the Iran war could force him to pare back spending, although it won’t fundamentally alter the bank’s overall strategy.

While Ermotti answered “no” when asked in a Bloomberg TV interview in Beijing if the uncertainty created by the conflict will impact UBS’s expansion plans, he also said that “we may tactically have to slow down certain investments.” He didn’t specify what that could entail.