UBS CEO Sergio Ermotti urged Swiss policymakers to balance strengthening financial stability with preserving competitiveness as lawmakers debate new capital requirements for major banks following the collapse of Credit Suisse. Speaking at the Point Zero Forum in Zurich on Wednesday, Ermotti said the political process was moving toward a more measured assessment of banking reforms, adding, “Without competitiveness, we will not maintain Switzerland as a global and vibrant financial center in the world.” His comments come as Swiss authorities consider stricter capital regulations for UBS, now the country’s only globally systemic bank after its government-backed takeover of Credit Suisse in 2023. UBS has warned that excessively stringent capital requirements could undermine its ability to compete with large U.S. and European rivals. Ermotti also addressed artificial intelligence’s impact, stating UBS has deployed hundreds of AI-powered applications and agents, and that “some of the jobs that we have in banking and finance will probably disappear, or you’re going to need less people to do the same job.”