Sergio Ermotti: APAC and China «Writing the Next Chapter»
UBS CEO Sergio Ermotti spoke about China’s increasing importance in the global economy and the Swiss bank’s plans for further expansion in the country.
During UBS’ 26th Greater China Conference (GCC) in Shanghai, which kicks off today, group CEO Sergio P. Ermotti spoke about Asia and China’s significance on the global stage as a major economic player.
«Zooming in, it’s clear that Asia Pacific, and China in particular, are not just participants in the global story – but are writing the next chapter,» he said in an opening speech at the event, which is held on January 13 and 14.
Ermotti cited various factors, including the region’s growing wealth and increasing financial activities. He specifically highlighted opportunities from artificial intelligence in China, including the emergence of new, leading models which are backed by supportive government policy.
Swiss-China Relations
Ermotti also reiterated the «strong partnership» with Switzerland, noting that it was the first country to recognize the People’s Republic of China in 1950, with UBS being the first foreign bank to gain majority control of a securities joint venture in 2018.
«In the same manner, China and our firm’s home country – Switzerland – also share a strong partnership. Our two nations’ diplomatic ties go back over 75 years. It’s a relationship built on openness and mutual respect. While we differ in size and history, we are united by a spirit of entrepreneurship and a drive to innovate,» Ermotti remarked.
«Over the course of our long history here, we have been privileged to witness and support the remarkable transformation of China and the wider region.»
Business Update
According to Ermotti, China delivered record financial performance in 2025, though no specific details were disclosed, and moving forward, UBS aims to leverage its multiple local licenses and platforms to drive its investment banking, wealth and asset management businesses. It is also working with partners of its fund management joint venture to offer more solutions.
To support expansion, the Swiss bank is in the process of issuing a Panda bond – onshore renminbi-denominated bonds from foreign entities.
Globally, Ermotti said that the integration with Credit Suisse continues to make progress with the «vast majority» of clients already migrated to a single, unified platform, with the remaining expected to be completed by the end of the first quarter this year.
GCC: Largest Conference
With more than 3,600 participants, including over 2,300 global and domestic institutional investors, sovereign wealth funds, family offices and private clients, Ermotti said that the GCC is the largest conference out of all the bank’s events. Over the next two days, the agenda will include speakers from business, policy and academia covering macroeconomic and policy dynamics, global positioning and strategic shifts, and the latest insights on innovation.
«In fact, this year we are welcoming more foreign clients to the conference. This reflects the importance of the region as well as renewed interest in China. It also demonstrates the strength of the partnerships we have built with each other over the years.» Ermotti added.
