Interview with UBS Chairman Axel Weber 'We Have Learned Our Lesson'

In a SPIEGEL interview, UBS board chairman Axel Weber says his bank is better prepared than most others for new, stricter capital requirements. UBS has learned from the mistakes of the financial crisis, he says, and explains why the Swiss financial giant has moved away from investment banking.
Christmas lights illuminate an office building of Swiss bank UBS in Zurich.

Christmas lights illuminate an office building of Swiss bank UBS in Zurich.

Foto: ARND WIEGMANN/ REUTERS
Translated from the German by Christopher Sultan