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Sergio Ermotti Quotes
Sergio Ermotti Quotes
Sergio Ermotti
Swiss
Businessman
Born:
May 11
,
1960
Bank
Business
Financial
Management
Think
You
Related authors:
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Everything is always feasible if you run a corporate finance exercise: you can always try to come out with a justification on how things could work. But the real issue is to say how do you translate that into practice.
Sergio Ermotti
Work
Finance
You
Try
Practice
Corporate
Everything
Say
Out
Run
Feasible
Could
Come
Exercise
Always
How
Real
Issue
Real Issue
Justification
Translate
Things
We have to have a business model that can be a sustainable and acceptable one to both regulators and the other stakeholders, clients, and investors.
Sergio Ermotti
Business
Other
Both
Investors
Acceptable
Clients
Model
Sustainable
Stakeholders
Business Model
If I have to tell you what was and is my mission, I think UBS can be the Apple or IBM of the banking industry: companies that went from being admired to severe difficulties and to being back stronger than before.
Sergio Ermotti
You
Stronger
Before
Think
Difficulties
Back
Severe
Tell
Admired
Mission
Industry
Than
Banking
Being
Companies
Apple
I don't think that the financial services industry and that banking in particular are any different than any other part of the economy, any other industry outside banking.
Sergio Ermotti
Financial
Think
Other
Financial Services
Outside
Part
Particular
Economy
Industry
Than
Any
Banking
Different
Services
Philanthropic funding can play a vital role in testing and stimulating innovation that, when proven, can be implemented at scale by business or government.
Sergio Ermotti
Government
Business
Innovation
Scale
Vital
Implemented
Proven
Stimulating
Testing
Role
Play
Funding
Philanthropic
Can a bank that is part of this society be sure that it has no bad apples? No, because, like in all other industries and companies, it's about people, and what you see is the reflection of the good and bad in society. So you employ people that you think are honest, but you have to manage them more and more with an eye towards missteps.
Sergio Ermotti
Good
You
People
Reflection
Think
Society
Other
Eye
Bad
See
About
More
More And More
Part
Towards
Like
Employ
Industries
Sure
Because
Manage
Bank
Them
Good And Bad
Companies
Apples
Honest
If we call ourselves the preeminent wealth management firm globally, then it would be impossible not to be a strong player in the biggest market in the world, the Americas.
Sergio Ermotti
Management
World
Strong
Wealth
Impossible
Market
Ourselves
Would
Would-Be
Firm
Call
Globally
Biggest
Then
Americas
Player
When you start to get shareholders, clients, employees, rating agencies, and everybody converging, and then your competitors bad-mouth you, you know you did the right thing.
Sergio Ermotti
You
Employees
Everybody
Right Thing
Rating
Shareholders
Know
Clients
Get
Did
The Right Thing
Agencies
Then
Your
Right
Thing
Start
Competitors
Every bank has to find its own DNA.
Sergio Ermotti
Own
Every
Find
Bank
In 1987, Merrill Lynch asked me to open a Swiss capital markets operation. I was 27. In hindsight, I was lucky enough to start a business from scratch. And I mean from zero - no offices, even, just a space with walls between different areas. We decided to tear down the walls.
Sergio Ermotti
Me
Business
Walls
Space
Down
Enough
Markets
Area
Open
Between
Operation
Hindsight
Offices
Scratch
Just
Different
Decided
Different Areas
Mean
Capital
Asked
Lucky
Even
Tear
Swiss
Zero
Start
I'm totally convinced that the battleground of banking is not the front office. The battleground is the back end.
Sergio Ermotti
Back
Battleground
Totally
End
Office
Front
Banking
Convinced
We don't really believe there's much room for the creation of new currencies if there is no real backing for a hard and credible issuer of that currency.
Sergio Ermotti
Creation
Believe
Backing
New
Real
Currency
Room
Much
Really
Hard
Credible
Many businesses in an investment bank, not only at UBS, are structurally a loss leader, so they don't pay for the cost of capital.
Sergio Ermotti
Leader
Pay
Cost
Only
Investment
Loss
Bank
Capital
Businesses
Many
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