CEO
Despite warning investors toexpect a net loss because of a reversal of previous credit gains on owndebt and restructuring charges, Gruebel said the second quarter showedencouraging signs, such as lower writedowns on UBS' remaining riskpositions.
The restructuring effort centers on a sharper focus ofprivate banking and has resulted in major steps such as the sale ofBanco Pactual of Brazil earlier this year and job cuts.