UBS CEO Rejects 90% Capital Proposal
UBS CEO Sergio Ermotti stated that a proposal requiring the bank to back foreign units with 90% CET1 capital falls short of a true compromise. He urged Swiss lawmakers to pursue a moderate course ahead of an upcoming parliamentary vote on capital rules.
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UBS GROUP AG-REG CEO Sergio Ermotti rejected a 90% CET1 capital proposal on Tuesday, calling the move an insufficient compromise for foreign units. The remarks arrive as Switzerland parliament prepares for a crucial upper house vote on new banking regulations. The outcome will dictate capital buffers following the 2023 collapse of Credit Suisse.
