Reported 3 days ago
UBS CEO Sergio Ermotti cautioned that excessive banking regulations may disadvantage Switzerland as it prepares to reform its financial sector following UBS's acquisition of Credit Suisse. He emphasized that stricter rules could weaken Switzerland's competitive position against financial hubs like London and Hong Kong. Ermotti stated that lessons had been learned from past crises, and he believes UBS is well-capitalized to avoid taxpayer losses, highlighting smooth integration of Credit Suisse into UBS despite some challenges.
Source: YAHOO