July 23, 2019 / 8:58 AM / a month ago

BRIEF-UBS CEO: We Can't Have Price For Monetary Policy Paid By Shareholders

July 23 (Reuters) - UBS:

* CFO: EXPECT SLIGHTLY HIGHER OPERATIONAL COSTS IN H2 THAN IN H1

* CEO: WILL ANALYSE THREE-YEAR PLAN AT END-Q3 AND WILL TAKE MARKET ENVIRONMENT AND INTEREST RATES INTO CONSIDERATION IN EVALUATING OUR GOALS

* CEO ON POTENTIAL ADJUSTMENTS TO INVESTMENT BANK IN STRATEGIC REVIEW: WE’RE NOT THINKING ABOUT A REVOLUTION, EXPECT SERIES OF EVOLUTIONARY STEPS

* CEO: BANK SAW LITTLE EVIDENCE SCANDAL AROUND ECONOMIST’S COMMENTS ON CHINA IMPACTED BUSINESS; NO IMPACT ON OUR COMMITMENT TO GREATER CHINA

* CEO SAYS VERY PLEASED WITH ASSET MANAGEMENT PERFORMANCE, NO COMMENT ON MARKET RUMOURS

* CEO, ASKED ABOUT IMPACT OF DEUTSCHE BANK’S INVESTMENT BANKING DOWNSIZE: OVERALL, UBS SEEING INCREASED SHARE OF WALLET IN INVESTMENT BANK, EXPECT TO SEE CONTINUED CONCENTRATION

* CEO SAYS IN CONCRETE DISCUSSIONS REGARDING SEVERAL STRATEGIC PARTNERSHIPS, RELATED TO WEALTH MANAGEMENT, INVESTMENT BANKING AND COMBINATION OF BOTH

* CEO SAYS WILL LOOK AT ANY ALTERNATIVES TO PROTECT MARGINS SHOULD MONETARY POLICY CHANGE; CAN’T HAVE PRICE FOR MONETARY POLICY PAID BY SHAREHOLDERS

* CEO: WE MUST LOOK AT BALANCING SHAREHOLDER AND CLIENT INTERESTS, BUT IT WILL BE VERY DIFFICULT TO APPLY NEGATIVE INTEREST RATES TO RETAIL CLIENTS

* CEO DECLINES COMMENT ON FUTURE OF CHIEF ECONOMIST PAUL DONOVAN, WHO WAS PREVIOUSLY PUT ON LEAVE OVER CHINESE PIG COMMENT Further company coverage: (Reporting by Brenna Hughes Neghaiwi)

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