Davos: UBS chairman Axel Weber on bank's future
24 January 2013 Last updated at 07:59 GMT
The chairman of UBS has spoken about his vision for the future of the bank at the World Economic Forum in Davos.
Axel Weber told the BBC's Tanya Beckett that the company would be a "more focused, de-risked and less complex investment bank".
Mr Weber also said that British Prime Minister David Cameron's decision to hold an 'in/out' referendum on Europe was "a sensible proposition", but that he hoped the UK remained within the EU.