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Activist Cevian bets on UBS growth with $1.4bn stake

The stake adds more pressure on UBS’s executive team to deliver on the acquisition of Credit Suisse

UBS chief executive Sergio Ermotti says the bank plans to grow its wealth business in the US
UBS chief executive Sergio Ermotti says the bank plans to grow its wealth business in the US Photo: Bloomberg via Getty Images

Cevian Capital has taken a €1.2bn ($1.4bn) stake in UBS, with the activist investor taking a bet that that the Swiss bank’s takeover of Credit Suisse will lead to a sharp rise in its stock price.

The activist has taken a 1.3% stake in UBS, it said in a statement, placing more pressure on the Swiss bank’s executive team to deliver on the biggest bank takeover since the 2008 financial crisis.

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