UBS-in-chief commutes at the present time between his home office in Montagnola, near Lugano, TI, and the office on Zurich’s Bahnhofstrasse. We meet him in the almost empty main seat of the Bank: the extra-large meeting rooms – the Social Distancing rules to be adhered to.

Sergio p. Ermotti said, I started with a crisis and a crisis – in this respect, the thing consistent (laughs). We have invested a lot in areas such as technology and training, and are well capitalized. The Bank is well prepared for the crisis, which keeps all of us currently in the spell. Today, we are a part of the solution.

In recent years, many things have happened that could escalate to crises. Many thought they could always control everything, and have become accustomed to, that all problems can be solved. But this Time it is different. It’s not even just a question: What happens to my assets? Now it’s a matter of your own life. All of our usual guarantees are therefore out of the question.

It is well. We adhere to the recommendations strictly. With parents-in-law, my, we communicate via Skype. This is something, what will remain of the crisis: We will appreciate the direct conversation more. We will use the digital tools such as Skype, which we use in the crisis so intense, much more often than before.

About 80 percent of the UBS staff work at the home office. And we make: It works, but is of course not always ideal. We will consider with security of communication was pattern. Many companies will be wondering: How much we travel, anyway? We need all of these trips, really, to function efficiently?

no one can seriously say advance. The gross domestic product is likely to break in the second quarter of single-digit and the value added in each industry, even in the high two-digit range. You can see that It is currently absolutely impossible to make for 2020 exact prediction.

If you have become accustomed to the people in the crisis of the new technologies and to work from home, it might be more difficult for traditional shops. And if the companies will ask whether you really need so many physical jobs, because you can work more from home, this could also have an impact on the real estate sector.

The health is now a priority. It would be irresponsible not to follow the orders of the Federal Council in the coming weeks. It is, of course, come a point where you will need to advantages and disadvantages of the disadvantages. But this discussion will not be initiated. At some point, people will get used to the Situation and return to a normal want. Then you will be able to weigh the risks in physical, economic or mental points of view.

I do not know. We definitely need several more weeks to understand the Situation and to bring it under control. There are two extreme groups: The a to make a lot of noise about the economic impact, the other want to the total restriction of all. Both positions are very dangerous.

I am standing in the middle. It is now primary to the health of the people. The impact on the economy will take a long time.

If necessary, I agree to a Shutdown. The Federal Council would have to of course understand why this is necessary.

Until now, there are 23000 applications in the amount of 1.8 billion Swiss francs. The credit amounts to an average of 200 000 francs.

The largest part relates to the loans including. At the higher amounts on the loans up to 20 million Swiss francs, but outside of the program, applications from multi-national corporations, which go far beyond this amount. We have everything from very small amounts up to billion in loans.

I hope it is. The aim of the campaign is that the companies spend the winter, so to speak, and so the crisis can survive.

of Course, the company’s debt, but the interest rates on these loans are zero. So you’re at least not a burden for the cash flow. Add to that: 80 percent of the customers, who have now taken instant loans with us, no fault until now.

Even though some cynics claim the opposite, we will earn a cent in this business. And we have no liquidity benefits. We do not profit so. Should result in a profit, then we donate it.

We have tested it carefully. The UBS is well-positioned financially strong and strategically well. We are in the position to pay the promised dividend, and to provide the economy with liquidity. It is all the year 2019. What to apply for in 2020, we will assess in the next year.

We need to remain flexible, but at the same time the new reality to acknowledge. Today, to predict what is in store this year for all of us, is a thing of the impossibility. What is so for 2020, we will see later.

Ralph Hamers is an experienced Banker. Above all, he can count on a strong and experienced Team. And by the way, what have all done to our staff in the last few months, is great.

Sergio Ermotti personally,

Sergio Ermotti (59) is in Ticino – and full-blood banker. After a banking apprenticeship in Lugano, TI, he joined Citibank in Zurich. Between 1987 and 2005, he worked for Merrill Lynch in London and New York. On the Italian Unicredit, he came to the UBS, where he has served since 2011 as CEO. At the end of October, he resigned and is 2021, President of Swiss Re. Ermotti is married and the father of two sons.