(CTN News) – Ermotti explained that the decision to reduce the UBS workforce was not taken lightly, but was a necessary step to ensure the bank’s long-term sustainability.
He emphasized that UBS is committed to maintaining a strong capital position, which is crucial for weathering any potential economic downturns or market volatility.
By reducing costs through workforce reduction, UBS aims to improve its efficiency and profitability, ultimately delivering value to its shareholders.
The CEO also discussed the impact of geopolitical tensions on the global economy. He expressed concerns about the ongoing trade disputes between the United States and China, as well as the uncertainty surrounding Brexit.
Ermotti highlighted the potential negative consequences of these conflicts on global growth and investment sentiment. He emphasized the need to closely monitor these developments and adjust its strategies accordingly.
In response to these challenges, UBS is focusing on diversifying its revenue streams and expanding its presence in emerging markets. Ermotti highlighted the importance of tapping into new growth opportunities and reducing reliance on traditional markets.
By expanding its footprint in emerging markets, UBS aims to capture the potential for higher returns and mitigate risks associated with economic uncertainties in developed markets.
Ermotti also emphasized the importance of investing in technology and innovation to stay ahead in the rapidly evolving financial industry.
He highlighted its commitment to digital transformation and its efforts to enhance the client experience through technological advancements.
By leveraging technology, UBS aims to streamline its operations, improve efficiency, and provide innovative solutions to its clients.
Furthermore, Ermotti discussed the importance of sustainable investing and commitment to environmental, social, and governance (ESG) principles.
He emphasized the growing demand for sustainable investment solutions and UBS’s efforts to integrate ESG factors into its investment strategies.
By incorporating ESG considerations, UBS aims to align its investment decisions with the values and preferences of its clients, while also contributing to a more sustainable and responsible financial system.
Overall, Ermotti’s interview highlighted a cautious approach in the face of uncertain economic conditions. The bank is focused on maintaining a strong financial position, adapting to market changes, and delivering value to its clients and shareholders.
By diversifying its revenue streams, investing in technology, and embracing sustainable investing, UBS aims to position itself for long-term success in a rapidly changing global landscape.