News | Latest Breaking News Stories & Headlines

UBS CEO says against reducing bank's size

UBS chief executive Sergio Ermotti said today he did not plan to reduce the bank's size amid pressure from Swiss regulators to boost its resilience following its emergency takeover of Credit Suisse.

Business • 05 Sep

UBS has warned of an uncertain outlook as US tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity

UBS profit tops forecasts but tariffs shock cloud outlook

UBS has today posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as US tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity.

Business • 30 Apr

UBS fourth quarter profit beats expectations

UBS Group has posted fourth-quarter profit that beat forecasts by a wide margin and said it would buy back up to $3 billion in shares this year if there were no major changes to bank capital rules in Switzerland in the near term.

Business • 04 Feb

UBS boss warns against excessive banking regulation

Switzerland should not set rules for its banking sector that put it at a disadvantage, UBS CEO Sergio Ermotti was quoted as saying today, as the country prepares to overhaul regulation following his bank's takeover of Credit Suisse.

Business • 30 Dec 24

UBS CEO Sergio Ermotti earned $15.9m last year

UBS CEO Ermotti had pay package of $16m last year

UBS chief executive Sergio Ermotti earned 14.4 million Swiss francs ($15.90m) in 2023, making him the best paid European bank boss last year.

Business • 28 Mar 24

UBS sells $8 billion of Credit Suisse assets to Apollo

UBS has sealed the sale of the securitised products business of Credit Suisse to Apollo Global Management, as part of efforts to wind down non-core assets after its takeover of the collapsed banking giant.

Business • 27 Mar 24

Sergio Ermotti, CEO of Swiss bank UBS, speaking at Davos today

UBS CEO dismisses criticism of bank's balance sheet

UBS chief executive Sergio Ermotti dismissed critics' warning about the size of his bank's balance sheet today, arguing that the bank's rescue of Credit Suisse had created a larger but also stronger lender.

Business • 17 Jan 24

UBS reports Q3 loss amid integration expenses

UBS Group has today posted a $785m loss in the third quarter after expenses tied to the Swiss bank's takeover of Credit Suisse while signalling that its core wealth business is stabilising.

Business • 07 Nov 23

UBS has identified Ireland, India, South Korea and Saudi Arabia as 'slow jurisdictions' in granting licences for its Credit Suisse deal

UBS names Ireland, India as 'slow' to clear CS deal

UBS Group said it had identified at least four countries including Ireland and India as "slow" in granting regulatory approvals which it needs to complete its takeover of Credit Suisse, according to an internal document reviewed by Reuters.

Business • 19 Sep 23

UBS shares have gained some 30% since the takeover of Credit Suisse was announced and are hovering around their highest levels in 15 years.

UBS to absorb Credit Suisse's domestic bank

UBS Group plans to cut 3,000 jobs in Switzerland in the next couple of years, as it offered the first glimpse of how it plans to achieve more than $10 billion in cost savings after taking over Credit Suisse.

Business • 31 Aug 23

UBS CEO warns of painful jobs decisions

UBS chief executive Sergio Ermotti has warned of painful decisions about job cuts following the takeover of Credit Suisse, which he said he hoped would be formalised in coming days.

Business • 02 Jun 23

Former Bank of Ireland chief executive Francesca McDonagh is set to keep her job at Credit Suisse

UBS chief draws up Credit Suisse leadership shortlist

UBS Group's chief executive Sergio Ermotti has shortlisted the Credit Suisse Group executives most likely to become part of the management team.

Business • 08 May 23

UBS aims to close Credit Suisse deal by May or June

UBS chief executive Sergio Ermotti said today that the Swiss bank was working on closing its merger with Credit Suisse by the end of May or early June.

Business • 03 May 23

Bonus payments for members of Credit Suisse's executive board are set to be cancelled under the decision

Bonuses cancelled or reduced for Credit Suisse managers

Switzerland has instructed Credit Suisse to cancel or reduce all outstanding bonus payments for the top three levels of management and examine whether already those already paid out can be recovered, the Federal Council has said.

Business • 05 Apr 23

UBS has rehired Sergio Ermotti as CEO to steer its massive takeover of Credit Suisse

UBS rehires Ermotti as CEO to steer Credit Suisse deal

UBS Group has rehired Sergio Ermotti as CEO to steer its massive takeover of neighbour Credit Suisse - a surprise move that seeks to take advantage of his experience in rebuilding the bank after the global financial crisis.

Business • 29 Mar 23

High levels of client activity helped the world's largest wealth manager end 2020 on a strong note

UBS reaps rich rewards from pandemic trading frenzy

UBS has today posted a 137% rise in fourth-quarter net profit, as high levels of client activity helped the world's largest wealth manager end 2020 on a strong note.

Business • 26 Jan 21

UBS has today posted a 99% jump in third-quarter profit

Third quarter profit doubles at Swiss bank UBS

UBS has posted a 99% jump in third-quarter profit as heavy turnover in global markets helped the bank to a strong performance in investment banking and an unexpected rise in wealth management earnings.

Business • 20 Oct 20

Swiss bank UBS posts 16% drop in Q3 net profit

UBS, Switzerland's biggest bank, has today posted a $1.049 billion net profit for the third quarter of 2019 as it slims its investment bank and cuts costs seeking to tackle difficult market conditions.

Business • 22 Oct 19

The chief executive of UBS Sergio Ermotti described as the fourth quarter of 2018 as 'historically tough'

UBS posts Q4 pre-tax profit miss, sees bumpy road ahead

UBS has today posted a $862m fourth-quarter pre-tax profit, hit by a slowdown in its flagship wealth management business and weaker earnings in its investment bank.

Business • 22 Jan 19

UBS chief executive Sergio Ermotti reports an 'excellent' start to the year

UBS boosts Q1 earnings thanks to strong investment bank

UBS, Switzerland's biggest bank, today posted a 19% rise in first-quarter net profit, helped by higher income from its investment bank amid a pickup in global market volatility.

Business • 23 Apr 18

UBS CEO Sergio Ermotti eyes 'new chapter' for the Swiss bank

UBS shareholders set for bigger payout

UBS, Switzerland's biggest bank, has proposed an increased dividend and new share buyback programme despite a hefty writedown from a tax overhaul in the US.

Business • 22 Jan 18

Martin Blessing may now be in pole position to succeed UBS CEO Sergio Ermotti

German banker to become head of UBS wealth management

Veteran German banker Martin Blessing will replace Juerg Zeltner as the head of UBS's market-leading wealth management business at the turn of the year, Switzerland's biggest bank said.

Business • 14 Dec 17

Sergio Ermotti, the CEO of Swiss bank UBS, says he is looking at Frankfurt, Madrid and Amsterdam

UBS CEO says London jobs could go to Frankfurt, Madrid

Swiss bank UBS is considering whether to move banking jobs in London to Frankfurt, Madrid or Amsterdam to cope with Britain's planned departure from the European Union, its CEO Sergio Ermotti said.

Business • 10 Jul 17

UBS CEO Sergio Ermotti says Brexit could pose a threat

Wealth management turnaround boosts UBS

A long-awaited turnaround in UBS's wealth management business helped Switzerland's biggest bank deliver its second-best start to a year since the financial crisis.

Business • 28 Apr 17

UBC CEO Sergio Ermotti saw his bonus for last year fall by 5.2%

Switzerland's UBS cuts its bonus pool by 17%

UBS cut its bonus pool by 17% in 2016 to 2.9 billion Swiss francs ($2.9 billion) after full-year net profit almost halved at Switzerland's biggest bank.

Business • 10 Mar 17

Sergio Ermotti