(Reuters) – UBS Chief Executive Officer Sergio Ermotti on Friday said it was important that Europe allow stronger banks to be created to make them more competitive on a global level.
“We can’t just rely on a crisis to create or facilitate the merger of banks,” Ermotti said.
Ermotti was speaking at a conference in Italy as Switzerland prepares to set out proposals aimed at protecting its economy from the risk of ‘too big to fail banks’ following the UBS takeover of its stricken Swiss peer Credit Suisse last year.
(Reporting by Elisa Martinuzzi and Valentina Za)
