UBS CEO: executives to contribute half of fixed salaries to virus fight

ZURICH (Reuters) – UBS senior executives will contribute 50% of their fixed salaries over the next six months to efforts to fight the new coronavirus epidemic, Chief Executive Sergio Ermotti said on Bloomberg TV on Thursday.

Ermotti also cautioned over too much exposure to equities at this stage, saying it was currently too difficult to forecast how the situation would develop, adding he saw downside risks to an equity markets recovery expected by investors over coming months.

(Reporting by John Revill and Brenna Hughes Neghaiwi)