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June 4, 2026 – 18:13\n<\/p>\n
(Bloomberg) \u2014 UBS Group AG Chief Executive Officer Sergio Ermotti said he worries about Switzerland\u2019s proposed population cap initiative, saying this is not a solution to the country\u2019s problems.<\/p>\n
\u201cI do worry about these extreme initiatives,\u201d he said at the Swiss Economic Forum conference in Interlaken on Thursday. \u201cSwitzerland has 30% of foreign-born people, almost like in Australia, twice as Germany. And that leads to certain frustration within society. But it\u2019s not a way to solve the problem.\u201d<\/p>\n
UBS is one of Switzerland\u2019s largest private-sector employers, with more than 30,000 employees based in the country. The bank has a significant international workforce.<\/p>\n
On June 14, Switzerland will vote on a plan to cap the population at 10 million. With the number already above 9.1 million, annual migration would have to drop by at least half to avoid reaching the ceiling by 2050, as proposed in the initiative.<\/p>\n
Separately, UBS is awaiting Switzerland\u2019s ultimate decision on its new capital requirements. In late April, the government watered down part of the reforms but refused to back down on its core demands. The core package is now being debated in parliament and the process is expected to last until next year.<\/p>\n
The discussions need to be balanced, Ermotti said, adding that the final decision from the Swiss authorities on the matter should be based on fact rather than emotion and scaremongering.<\/p>\n
The Swiss government wants to force UBS to raise the amount of common equity capital it holds domestically against its foreign operations to 100% of each unit\u2019s equity value, from 60% at present. UBS estimates that this would require it to add about $20 billion in CET1 capital to its Swiss entity. The lender has said that the plan would severely damage its business model, and by extension hurt the domestic economy.<\/p>\n
\u00a92026 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on June 4, 2026 – 18:13 (Bloomberg) \u2014 UBS Group AG Chief Executive Officer…\n","protected":false},"author":2,"featured_media":77731,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[129],"tags":[1990,1991,223],"class_list":["post-77730","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ubs","tag-business-general","tag-ticker","tag-ubs"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116693458550548013","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/77730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=77730"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/77730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/77731"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=77730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=77730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=77730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}