UBS and Karin Keller-Sutter clash over lobbying
UBS bank and Federal Councillor Karin Keller-Sutter clash over lobbying. Ermotti denies pressure, Matter calls it ridiculous.
Contesto
In brief - UBS reports net profit of over 3 billion dollars in the first quarter of 2026 - Keller-Sutter accuses UBS of aggressive lobbying - Ermotti denies pressuring parliamentarians ## Key facts - What: Clash between UBS and Karin Keller-Sutter over lobbying - When: April 29, 2026 - Where: Switzerland - Who: UBS, Karin Keller-Sutter, Sergio Ermotti, Thomas Matter, Alex Farinelli - Amount: UBS net profit >3 billion dollars - Amount: UBS own capital coverage: 20 billion dollars The political discussion on the own capital of systemically important banks has seen a back-and-forth between UBS and the Swiss government. UBS CEO Sergio Ermotti opposes some conditions proposed by the Federal Council to prevent another Credit Suisse case. Federal Councillor Karin Keller-Sutter, head of the Finance Department, spoke of a massive and unprecedented lobbying operation by the bank, especially towards Parliament, to the point of intimidating some deputies. But Ermotti disputes the claims, and denials also come from Parliament. Karin Keller-Sutter had thrown the first stone in the pond last Saturday on SRF, speaking of an "un-Swiss" attitude. "It is absolutely legitimate for a company to represent its own interests - added the head of the Finance Department - but to exert such personalized pressures both on parliamentarians and on federal councillors is something new." The new rule proposed by the Federal Council provides for systemically important banks to fully cover participations in foreign branches with own capital. A coverage that for UBS should thus amount to a total of twenty billion dollars (nine more than today, says the government), with a consequent significant "loss of competitiveness," says Ermotti, such as to reflect on the presence of UBS itself in Switzerland. A...
Dettagli operativi
Analysis of Practical Implications The statements by Karin Keller-Sutter and the response from Sergio Ermotti raise important questions about the role of lobbying in the Swiss political decision-making process. The discussion on the own funds of systemically important banks is crucial for the stability of the Swiss financial system and could have significant implications for cross-border workers in the banking sector. ### Comparison with the Previous Situation Before the new proposals from the Federal Council, systemically important banks like UBS operated with less stringent own funds requirements. The new rules, which provide for full coverage of participations in foreign branches, represent a significant change from the past. This could influence the competitiveness of Swiss banks internationally and, consequently, the local job market. ### Possible Scenarios If UBS were to reduce its presence in Switzerland, cross-border workers employed by the bank could face significant challenges. Internal adjustments may be necessary, with possible layoffs or transfers. Furthermore, the new rules could lead to increased regulation and control over banking activities, indirectly affecting cross-border workers in other financial sectors as well. ### Comparison with Other Banks Systemically important banks in Switzerland, such as UBS and Credit Suisse, are subject to stricter rules compared to other financial institutions. This could create a competitive gap between large banks and regional banks, influencing the job market and opportunities for cross-border workers. Regional banks could benefit from greater operational flexibility, attracting talent and investments. ### Tax Implications The new rules on own funds could have tax implications for cross-border workers in the...
Punti chiave
What cross-border workers should do Cross-border workers employed in the banking sector in Ticino should closely monitor the developments in the discussion on the own funds of systemically important banks. It is important to stay informed about the new rules and their implications for the local job market. Additionally, cross-border workers should consider diversifying their skills and exploring job opportunities in other financial sectors or regional banks. ### Step-by-step procedure 1. Monitor developments: Follow news and updates on the new own funds rules and decisions by the Federal Council. 2. Consult employers: Talk to your superiors and HR managers to understand how the new rules might affect your employment. 3. Diversify skills: Consider taking training courses or obtaining certifications to improve your skills and increase job opportunities. 4. Explore new opportunities: Evaluate the possibility of working in other banks or financial sectors to reduce the risk of layoffs or transfers. 5. Prepare for tax changes: Consult a tax advisor to understand how the new rules might affect your tax situation and prepare for any changes. ### Useful tools For cross-border workers who want to stay informed and prepare for possible changes, it is useful to use tools such as the salary calculator and the permit comparator. These tools can help you evaluate your options and plan your professional future. ### Conclusion The tensions between UBS and the Swiss government represent a challenge for cross-border workers employed in the banking sector in Ticino. It is important to stay informed, monitor developments, and prepare for any changes. By using the available tools and following the indicated procedures, cross-border workers can face future challenges with greater conf...
Punti chiave
{"q":"What are the new rules proposed by the Federal Council for systemically important banks?","a":"The new rules proposed by the Federal Council require full coverage of investments in foreign branches with own capital for systemically important banks. This means that UBS should increase its coverage from 11 billion to 20 billion dollars, with a significant impact on its competitiveness."},{"q":"How can cross-border workers prepare for possible changes in the banking sector?","a":"Cross-border workers can prepare by monitoring the developments of the new rules, consulting their employers, diversifying their skills, and exploring new job opportunities. It is also useful to consult a tax advisor to understand the implications of the new rules on their tax situation."},{"q":"What tools are available for cross-border workers who want to plan their future career?","a":"Cross-border workers can use tools like the [salary calculator and the permit comparator to evaluate their options and plan their future career. These tools can help to better understand the implications of the new rules and to make informed decisions."}]
Frequently Asked Questions
- What are the new rules proposed by the Federal Council for systemically important banks?
- The new rules proposed by the Federal Council require full coverage of investments in foreign branches with own capital for systemically important banks. This means that UBS should increase its coverage from 11 billion to 20 billion dollars, with a significant impact on its competitiveness.
- How can cross-border workers prepare for possible changes in the banking sector?
- Cross-border workers can prepare by monitoring the developments of the new rules, consulting their employers, diversifying their skills, and exploring new job opportunities. It is also useful to consult a tax advisor to understand the implications of the new rules on their tax situation.
- What tools are available for cross-border workers who want to plan their future career?
- Cross-border workers can use tools like the [salary calculator](nav:calculator) and the [permit comparator](nav:permit-compare) to evaluate their options and plan their future career. These tools can help to better understand the implications of the new rules and to make informed decisions.