UBS's Ermotti Says Swiss Capital Plan Risks Overreaction

The transcript discusses the challenges faced by Swiss financial institutions due to stringent capital requirements and regulatory frameworks. It highlights the complexity of discussions around foreign subsidiaries and the impact on Switzerland's position as a leading financial centre. The speaker emphasizes the strategic importance of maintaining operations in Switzerland and argues against relocating to other financial hubs like New York. The focus is on presenting the benefits of Swissness and advocating for a balanced regulatory approach.

In what ways does the speaker believe Swissness contributes to their business strategy?

What is the speaker's stance on moving away from Switzerland for business operations?