UBS Group CEO Sergio Ermotti's salary of CHF 14.4 million in 2023 has faced criticism. Ermotti acknowledged the controversy and compared it to his first monthly wage as an apprentice, which was CHF 350. He expressed surprise at the focus on high salaries in business compared to sports and entertainment.

Ermotti defended the competitive landscape of Swiss banking, stating that concerns about UBS monopolizing the market are unfounded due to the presence of over 200 domestic and foreign banks. He also cautioned against stricter banking regulations, advocating for targeted and proportionate measures to avoid undermining Switzerland's financial center.

Ermotti mentioned that UBS is making progress with the integration of Credit Suisse, although IT migration challenges remain a significant hurdle.