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UBS CEO Sergio Ermotti highlighted the significant impact of technological advancements on the bank's future during an IMF conference, emphasizing the need for preparedness amid industry changes. As UBS integrates Credit Suisse, it has streamlined its IT applications from 3,000 to 300, achieving cost synergies essential for restoring profitability. Ermotti also stressed the importance of maintaining liquid balance sheets, especially in the age of social media, where reputational issues can lead to rapid deposit withdrawals.
Laura Noonan
People
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ubs ceo highlights technology's role in shaping future of banking
12:54 24.10.2024
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