Ermotti: UBS deserves debate
UBS CEO Sergio Ermotti defends the bank from accusations of aggressive pressure on the debate about own funds.
Contesto
In brief - UBS rejects accusations of aggressive lobbying - Ermotti: 'We have the right to participate in the discussion' - Federal Council's proposals deemed 'excessive' ## Key facts - What: Accusations of aggressive lobbying against UBS - When: April 29, 2026 - Where: Switzerland - Who: Sergio Ermotti, UBS CEO - Amount: Not specified UBS CEO Sergio Ermotti has dismissed accusations of aggressive pressure in the debate on banks' own funds. In a conference call with the media, Ermotti stated that the bank has 'very valid arguments' to put forward and that 'we have too much respect for Parliament to issue threats.' The Ticino manager also appealed to the Federal Council, asking for the discussion to return to an 'appropriate level.' Finance Minister Karin Keller-Sutter had stated in an interview with Blick that she had heard from some parliamentarians who fear that UBS could reduce contributions to their party. According to the Federal Councillor, such strong lobbying from a private actor is rather unusual in Switzerland. ### Criticism of the Federal Council's proposals Ermotti explained that UBS does not intend to speculate in public about countermeasures, but reiterated that the Federal Council's proposals are 'excessive' and 'disproportionate.' In particular, the bank considers the planned full coverage with own funds of foreign branches a 'thorn in the side.' The CEO emphasized that for Credit Suisse, the problem was not the structure of regulation, but its implementation and communication. ### Statements by the Chairman of the Board of Directors Ermotti defended the statements made in mid-April by Chairman of the Board of Directors Colm Kelleher at the general assembly. Kelleher had stated that it is the bank's duty to carefully evaluate the appropriate optio...
Dettagli operativi
Analysis of the Federal Council's Proposals The Federal Council's proposals, which UBS considers excessive, include full capital coverage for foreign branches. This measure could have a significant impact on Swiss banks, particularly those with a strong international presence like UBS. The bank has emphasized that while adjustments are necessary, the current proposals are disproportionate and could compromise the competitiveness of Swiss banks. ### Reactions from the Financial Sector The tensions between UBS and the Federal Council have sparked reactions within the Swiss financial sector. Some experts have expressed concern over the potential consequences of overly stringent regulation, while others have advocated for the need to ensure the stability of the financial system. Statements by Ermotti and Kelleher have further polarized the debate. ### Implications for Cross-Border Workers Any changes to the regulation of own funds could have repercussions for cross-border workers employed in the Swiss financial sector. In particular, there could be changes in working conditions, job stability, and the competitiveness of Swiss banks. Cross-border workers should closely monitor the development of the debate and assess the potential implications for their employment situation. ## Possible Scenarios ### Scenario 1: Agreement Between UBS and the Federal Council If UBS and the Federal Council can reach an agreement on the regulatory proposals, this could lead to a stabilization of the Swiss financial sector. Banks could adopt the new regulations without excessive difficulties, and cross-border workers could benefit from a more stable and competitive work environment. ### Scenario 2: Prolonged Conflict In the event of a prolonged conflict between UBS and the Federal Coun...
Punti chiave
What cross-border workers should do Cross-border workers employed in the Swiss financial sector should closely monitor the developments in the debate between UBS and the Federal Council. It is important to stay informed about the possible implications of the regulatory proposals and any potential changes to working conditions. Cross-border workers should also evaluate their career options and consider any changes in their work environment. ### Procedure to monitor the debate 1. Stay informed regularly: Follow the news and updates on the debate between UBS and the Federal Council. Use reliable and up-to-date sources to stay informed. 2. Assess the implications: Analyze the possible consequences of the regulatory proposals on working conditions and job stability in the Swiss financial sector. 3. Prepare for potential changes: Evaluate your career options and consider any changes in your work environment. Be ready to adapt to new conditions and explore new opportunities. ### Useful tools - Salary calculator: Use the salary calculator to assess the possible implications of changes in regulation on your income. - Permit comparator: Use the permit comparator to explore career options and working conditions in different companies and sectors. - Residency guide: Consult the residency guide for information on how to obtain and maintain a residence permit in Switzerland. ## Conclusion The tensions between UBS and the Federal Council on the debate of own funds could have significant repercussions for cross-border workers employed in the Swiss financial sector. It is important to closely monitor the developments in the debate and evaluate the possible implications for your work situation. Use the available tools to stay informed and prepare for any potential changes. Source...
Punti chiave
[{"q":"What are the main accusations against UBS?","a":"UBS is accused of exerting overly aggressive pressure in the debate on banks' own funds. Finance Minister Karin Keller-Sutter stated that she has heard from some parliamentarians who fear that UBS might reduce contributions to their party."},{"q":"Which proposals by the Federal Council does UBS consider excessive?","a":"UBS considers the Federal Council's proposals excessive, which include full coverage with own capital of foreign branches. The bank has described these proposals as 'extreme' and 'disproportionate'."},{"q":"What are the possible implications for cross-border workers?","a":"Any changes to the regulation of own funds could have repercussions on cross-border workers employed in the Swiss financial sector. There might be changes in working conditions, job stability, and the competitiveness of Swiss banks."}]
Frequently Asked Questions
- What are the main accusations against UBS?
- UBS is accused of exerting overly aggressive pressure in the debate on banks' own funds. Finance Minister Karin Keller-Sutter stated that she has heard from some parliamentarians who fear that UBS might reduce contributions to their party.
- Which proposals by the Federal Council does UBS consider excessive?
- UBS considers the Federal Council's proposals excessive, which include full coverage with own capital of foreign branches. The bank has described these proposals as 'extreme' and 'disproportionate'.
- What are the possible implications for cross-border workers?
- Any changes to the regulation of own funds could have repercussions on cross-border workers employed in the Swiss financial sector. There might be changes in working conditions, job stability, and the competitiveness of Swiss banks.