UBS CEO Ermotti on Bank Consolidation, Regulation, Possible Deals

The video discusses UBS's revised targets due to macroeconomic changes, emphasizing a 15% target rather than the misunderstood 12%. It covers cost-cutting strategies, job impacts, and the importance of the cost-income ratio. The French trial's outcome will influence capital return policies. UBS aims to improve investment bank returns and considers potential consolidation in the banking sector, focusing on scale and efficiency.

What are the implications of the capital return policy discussed?

What does the speaker believe about banking consolidation in Europe?

How does the speaker view the relationship between scale and efficiency?