Part 5/10:
The dialogue also highlighted the pressures UBS faces from Swiss regulators, particularly around capital requirements for overseas subsidiaries. Ermotti conveyed concerns that increased capital charges could impair the bank's competitiveness and raise costs for clients. He noted that while he supports some government proposals following the Credit Suisse debacle, excessive regulation could stifle Swiss banking as a competitive player on the global stage. This reflects a broader concern that without a careful approach to regulation, Switzerland's appeal as a financial center may diminish.