UBS CEO Sergio Ermotti Details Credit Suisse Integration Progress

UBS CEO Sergio Ermotti announced that the integration of Credit Suisse is nearing completion, with more than 90% of inherited applications already decommissioned. Speaking at the 31st Annual Financials CEO Conference on September 22, 2026, Ermotti stated that the process is expected to be fully finished by the end of 2024.

The bank is reporting strong momentum in its wealth management divisions across the United States and Asia-Pacific. The U.S. unit specifically achieved pre-tax profit margins between 15% and 16% in early 2024. To maintain this growth, UBS is investing in artificial intelligence to increase efficiency and expand into new market segments while continuing share buybacks and targeting a capital ratio of 14%.

Despite these gains, Ermotti is lobbying the Swiss Parliament over proposed capital requirements for foreign subsidiaries. He warned that the Federal Council's original proposal could cost shareholders CHF 3 billion annually. UBS is advocating for a compromise involving a 50/50 split of common equity tier 1 and additional tier 1 capital, which would lower the annual cost to CHF 2 billion. Ermotti argued that shareholders have already absorbed CHF 15 billion in forgone profits resulting from the Credit Suisse rescue.