Sergio Ermotti, CEO of UBS, announced during the Reuters NEXT Newsmaker event that the bank plans to reinvest part of its $13 billion in cost savings into improving processes. Ermotti also highlighted the significant risks involved in integrating Credit Suisse's technology systems, noting that delays could hinder these cost savings. Furthermore, he expressed concerns about Switzerland's regulatory environment, advising against excessive capital demands. Ermotti committed to remaining at UBS until the integration with Credit Suisse is complete, potentially extending his tenure until early 2027.
UBS CEO talks technology, job cuts and his own future https://t.co/KHhtjJOKlQ https://t.co/VBHbnXopEH
UBS CEO warns about risk of delays to tech integration https://t.co/kb5Ydorajd https://t.co/npGZ8jTNic
UBS CEO Sergio Ermotti intends to stay at the helm of the Swiss bank until the task of absorbing Credit Suisse is complete, meaning he could be in place until early 2027 https://t.co/NNW21VMWnQ via @markets @myriamBalez #Switzerland
UBS CEO Sergio Ermotti intends to stay at the helm of the Swiss bank until the task of absorbing Credit Suisse is complete, meaning he could be in place until early 2027 https://t.co/IM8ASz7sit
UBS CEO says Switzerland should not "overshoot" with capital demands https://t.co/R8MaDywEft https://t.co/CMZKcw2zCD
The biggest risk in UBS's integration of Credit Suisse’s technology systems is a delay that would push back cost savings, says CEO Sergio Ermotti https://t.co/zUaoO7jj9J
CEO: UBS to reinvest part of $13 bln in costs savings on improved processes https://t.co/SaWJTc53u5 https://t.co/SJFAL1v2X0
LIVE: Reuters NEXT Newsmaker featuring Sergio Ermotti, CEO of UBS https://t.co/KQVLVlzOkw