UBS’s return on equity–a key profitability metric for banks–could exceed current expectations following the integration of its former competitor Credit Suisse, Chair Colm Kelleher tells Bloomberg TV at the World Economic Forum in Davos. Switzerland’s largest bank in August said it was targeting to end 2026 with a return on equity of around 15%. UBS–which is due to publish a three-year strategic plan in February along with its fourth-quarter results–has started merging teams and downsizing Credit Suisse’s Swiss investment bank, Kelleher says. “The people we have brought in, on the whole it has worked quite well, we have been quite surprised,” he says. “To a large extent a lot of bad actors had gone.”