UBS CEO: Integration completed – next transformation underway
Keystone-SDA
According to Group CEO Sergio Ermotti, the Swiss bank UBS is making good progress integrating Credit Suisse, which was acquired three years ago. At the same time, management is working on preparing the bank for the coming decade.
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“2025 was another very good year for UBS,” said Ermotti at the Annual General Meeting in Basel on Wednesday, according to the text of his speech. And UBS is on track to return its profitability to the level of 2022 by 2028. “That is, before the takeover of Credit Suisse,” said Ermotti.
The last Credit Suisse clients in Switzerland were successfully transferred to the UBS systems in March. “This means we have essentially completed the migration of around 1.2 million client relationships worldwide.”
The integration in the various business divisions and in the central group functions has also been completed. And UBS has “further significantly reduced” its legal risks, explained the UBS boss.
Preparing for the next decade
However, management is not only working on finalising the integration and implementing the short and medium-term priorities. “We also want to prepare UBS for the next decade,” said Ermotti. Technology and artificial intelligence play a particularly important role in this.
The bank is therefore investing “on a large scale” in transformative programmes in AI. These programmes would “fundamentally redesign” the processes at UBS, improve customer service and make the bank more resilient.
At the same time, UBS also sees new opportunities arising from digital assets and tokenisation. “This could fundamentally change the way we work.”
Translated from German by AI/jdp
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