Switzerland’s seat at the table of global finance

Recently I addressed the members of the Schweizerisches Institut für Auslandforschung, University of Zurich students and faculty.

A vibrant financial center, with a globally connected and competitive bank at its core, plays a vital role in the Swiss economy.

It has been 14 months since UBS was asked to be part of the solution in the first-ever combination of two global systemically important financial institutions. Because UBS stepped up and answered that call, the bank today is regarded with even more respect abroad than before.

Over the past year, I have visited our operations in the United States, Middle East, Europe, China and Singapore. One thing is crystal clear.

UBS, and many Swiss institutions, are seen in a stronger light by our clients, counterparties, investors, employees – as well as regulators and policymakers.

Seat at the table

Switzerland’s rapid improvement of its standing with investors and the wider global community matters for a very simple, but important, reason.

We don’t have the geopolitical power of our larger neighbors and bigger trading partners. Therefore, it’s vital that we preserve and strengthen the significant role Switzerland plays in global economics and finance.

Arguably, having a global systemically important bank is part of the reason Switzerland has a seat at the international table when consequential economic and financial topics are discussed, and rules are decided.

Now that Switzerland has only one global bank, it is even more crucial for UBS to act as a source of strength and stability everywhere it operates.

Banks, a key pillar of the Swiss economy

It is important for Switzerland to have a strong and diversified financial center that provides capital, advice and know-how to Swiss companies and households.

As an industry, we offer skills and services tailored to the needs of businesses – be they SMEs or multinationals – many of which are leaders in their own fields. Together, we help form the backbone of the Swiss economy.

With a high density of banks, the Swiss financial center is very competitive. Every day, more than 200 domestic and foreign institutions fight for clients, business and talent. UBS does not have a dominant market position – regardless of whether you look at deposits, loans, mortgages or branches. We have to win clients’ trust based on our capabilities.

UBS contributes to Switzerland’s wellbeing

As a key pillar in the Swiss financial center, UBS contributes substantially to the wellbeing of Switzerland, our home market.

As an employer of choice in the financial industry, we attract top talent to Switzerland. These employees bring knowledge and expertise that benefit and help shape the Swiss economy at large.

Learn from the past

As Switzerland discusses the future of finance, UBS will continue to constructively contribute its views to the relevant authorities, policymakers and the wider public.

Above all, we will remain focused on what we are able to control – executing on our integration plans, serving our clients, following through on our strategy, investing in our people, and remaining a pillar of economic support in the communities where we live and work.