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UBS CEO Ermotti Says Cyber Risks Rival Traditional Bank Threats

Bloomberg Technology Tuesday 03 November 2026, 05:20 UTC By Bloomberg News 1 min read
Key Points

Cybersecurity UBS CEO Ermotti Says Cyber Risks Rival Traditional Bank Threats UBS Group AG’s chief executive said guarding against cyber attacks has become as important as — if not more important than — managing traditional credit and market risks, as such threats across the banking sector grow in frequency and sophistication. These cyber risks are increasing “exponentially” and represent “the price to be paid for all this innovation and digitalization,” Sergio Ermotti said during a panel at...

Cybersecurity UBS CEO Ermotti Says Cyber Risks Rival Traditional Bank Threats UBS Group AG’s chief executive said guarding against cyber attacks has become as important as — if not more important than — managing traditional credit and market risks, as such threats across the banking sector grow in frequency and sophistication. These cyber risks are increasing “exponentially” and represent “the price to be paid for all this innovation and digitalization,” Sergio Ermotti said during a panel at the Hong Kong Monetary Authority’s Global Financial Leaders’ Investment Summit. Good governance, clear accountability and the ability to react quickly in this environment are key, he added.
UBS (ORG) Sergio Ermotti (PERSON) the Hong Kong Monetary Authority’s (ORG) Global Financial Leaders’ Investment Summit (ORG)
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