UBS boss Ermotti fears Europe’s banks ‘too small to survive’

Financial Post | Nov 13, 2019 at 1:51 PM
  • UBS Group Chief Executive Sergio Ermotti on Wednesday said banking consolidation, especially in Europe, is unavoidable in coming years as institutions must achieve critical mass to remain competitive.
  • Despite Brexit-related uncertainty, Ermotti predicts London will become a stronger competitor for the Swiss financial center.