UBS CEO Ermotti: Credit Suisse no longer seeing outflows, situation has stabilised


LUZERN, Switzerland, May 12 (Reuters) - UBS UBSG.S Chief Executive Sergio Ermotti said on Friday that the situation at Credit Suisse has stabilized and he did not think outflows at the embattled bank were continuing.

Addressing a media conference in Lucerne, Ermotti also said

he hoped there would be an investigation into Credit Suisse's GroupCSGN.S downfall, which prompted his bank's takeover of its Swiss rival as part of a rescue orchestrated by the Swiss authorities.

He said UBS was on track to close the transaction within three months from its March 19 announcement.

(Reporting by Noele Illien, Editing by Tomasz Janowski)

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