Posted By Global Banking and Finance Review
Posted on February 10, 2025
ZURICH (Reuters) - UBS should have more clarity on the amount of capital it will need to hold under new Swiss banking regulations currently being drawn up, CEO Sergio Ermotti said on Monday.
"We will not get much clarity until May," Ermotti said at an event in Miami, noting that May was when Swiss authorities were likely to launch a consultation on the new proposals.
"Having said that, this is going to still take months to then become eventually a formal proposal. So, I would say between May and ... the end of the summer probably and the start of autumn, you know, we're going to find out much more."
While UBS was making good progress in delivering on its strategic objectives, Ermotti said that tariffs could cloud the outlook, in an apparent nod to potential trade measures being put forward by U.S. President Donald Trump.
"The uncertainties that we see from a geopolitical standpoint ... around tariffs, is definitely creating a little bit of uncertainties that may dent the capabilities for us, for everybody, to execute on the pipeline," Ermotti said.
(Reporting by Ariane Luthi; Editing by Dave Graham)