UBS Group CEO Sergio Ermotti has expressed his opposition to stricter banking regulations in Switzerland, stating that while some measures are necessary, they should be targeted and proportionate.

Ermotti compared a broad regulatory tightening to reducing speed limits for all drivers because of the actions of one irresponsible individual, referring to the recent bankruptcy of Credit Suisse, which UBS acquired in a state-backed emergency takeover in 2023.

Ermotti stressed the importance of Switzerland avoiding the adoption of rules that are not recognized in other countries, as this could undermine the nation's financial center. He expressed satisfaction with the progress of integrating Credit Suisse, which is expected to be completed by 2026, but acknowledged the significant challenges of merging the IT systems.

Ermotti also criticized the superficial discussions surrounding large banks, cautioning that such narratives could lead to detrimental long-term decisions for the country.