UBS Group CEO Sergio Ermotti warned that if policymakers overreacted to the collapse of Credit Suisse, Switzerland's position as the world's wealth management center could be replaced. Currently, Hong Kong, Singapore and the United States are actively competing and have made significant progress in competing for Switzerland's offshore wealth management leadership position.

After the collapse of Credit Suisse, UBS and Swiss authorities debated the direction of Switzerland's future financial reforms, mainly centered on whether banks with international subsidiaries should be required to hold additional capital. Analysts believe that the new regulations may bring UBS an additional capital requirement of $15 to $25 billion. Ermotti publicly opposed the need for additional capital.

Ermotti stated that Swiss banks need to have global competitiveness and can no longer pretend that domestic competition in the banking industry is sufficient. The wealth management industry in Hong Kong is expanding at a compound annual growth rate of 7.6%, which is expected to surpass Switzerland by 2027, while Singapore is growing at a rate of 9% and is expected to become the world's third-largest wealth management center.

He added that if Switzerland restricts banks from maintaining their leading positions overseas, foreign financial centers will benefit from it.