I’m not a close observer of the company, but I have to wonder how they would now describe their business model to a new and eager customer. Bernard Bauhofer had a funny way of putting it:
The big question is whether high net worth individuals are
willing to stay with an institution incapable of surviving on its
Meanwhile, over at the state-owned bank:
Clients seeking to open an account last week at ZKB’s
central branch on Bahnhofstrasse in Zurich, a block from UBS’s
headquarters, had to wait as long as an hour. "We don’t know what to do with all the money right now,”
ZKB spokesman Urs Ackermann said.