UBS Group AG Chief Executive Officer (CEO) Sergio Ermotti (pictured) described on Wednesday the investment bank as one of the safest institutions worldwide.
During a speech at the University of Zurich, Ermotti stated that UBS has the necessary tools to respond to potential problems within it if they ever happen before considering dismantling. Still, he expressed his understanding of the public's worries about the banking system's resilience, given the two crises that the sector in Switzerland experienced in the past 15 years. Earlier this year, such issues led to the sale of Credit Suisse Group AG to UBS.
Moreover, Ermotti urged Switzerland to introduce stricter measures for the banks to prevent such crises, as well as for its managers. "It should be easier for the bank, or the regulator, to go after people who demonstrated great negligence in their duties," he concluded.
