November 16, 2016 / 8:22 AM / 2 years ago

UBS won't change London presence any time soon, chairman says

Axel Weber, Chairman of UBS bank, attends a financial markets event in the City of London, in London, Britain September 28, 2016. REUTERS/Toby Melville

LONDON (Reuters) - Swiss bank UBS will not make any changes to its London operations any time soon in the wake of Britain’s vote to leave the European Union, the bank’s chair of its board of directors, Axel Weber, said on Wednesday.

“We are not planning to change anything any time soon and we will wait and see where the dust settles”, Weber said at a conference hosted by the bank.

The former Bundesbank chief added that he expected the Brexit process to generate further volatility going forward and that all the key decisions to be made in the very final stages of negotiations.

Reporting by Marc Jones

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