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Since the financial crisis, UBS has been the oft-cited poster child for how to turn a business around and create a sustainable franchise in modern banking. But in 2016 the Swiss bank arguably became a victim of its own success – its performance was safe, steady, still at the head of the industry by many metrics. But UBS became, dare we say it, a little boring.
As chief executive Sergio Ermotti has pointed out to Euromoney, there is something rather positive about being considered boring in modern finance.
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