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UBS CEO pushes back against domestic critics of bank's size
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UBS CEO pushes back against domestic critics of bank's size
Jun 18, 2024 9:45 AM

LUCERNE, Switzerland, June 18 (Reuters) - UBS's CEO on

Tuesday hit out at critics urging Switzerland to regulate his

bank more aggressively after its 2023 takeover of Credit Suisse,

saying "fear" and "populist" critics were doing down the

business and the country's own prospects.

Speaking as the government and regulators mull plans to make

the bank hold more capital, UBS CEO Sergio Ermotti told an event

by the Institute for Swiss Economic Policy in Lucerne that UBS

was not only a major source of tax revenue for public coffers,

but also a "beacon" for the Swiss finance industry.

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