UBS CEO sees functioning competition in corporate banking

Swiss industry plays an important role in UBS's business model. This is what UBS chief Sergio Ermotti emphasised on Tuesday during his appearance at an event called, “Industry Day” in Bern. Industry is a key factor in the success of the Swiss economy and also of UBS. "We are a globally positioned major bank, but that does not mean that we conflict with Swiss SMEs," said Ermotti in a panel discussion at the industry meeting organised by the Swiss business association for engineering, electrical, and metal industries, Swissmem. "We want to contribute to ensuring that they operate successfully as companies and are doing well." Daily news – Get the most important news from Switzerland in your inbox. Ermotti rejected criticism that UBS could use its dominance in the corporate banking sector to increase prices for banking services. "We will prove that this concern is unfounded." And Ermotti was pleased that the Competition Commission (ComCo) confirmed that competition in Swiss banking is ...