UBS Group AG CEO Sergio Ermotti has expressed his strong opposition to excessive banking regulations, stating that they could have a negative impact on Switzerland's banking sector.

Ermotti emphasized the importance of Swiss authorities avoiding the adoption of rules that are not in place in other countries. He also warned against a return to a "model student syndrome."

Ermotti reflected on the situation at Credit Suisse Group AG and attributed the bank's issues to its own mismanagement. He noted that Swiss regulators allowed Credit Suisse to bypass existing regulations.

Ermotti reassured stakeholders that even if a problem were to occur at UBS, it is highly unlikely that taxpayers would suffer losses, as the bank has strong reserves.