UBS sees “in the Apple or IBM financial services”

To orders since 2011, the boss of the swiss bank UBS, Sergio Ermotti, has delivered the substance of his thought on the future of the sector in a maintenance river at Bloomberg Markets magazine. The swiss banker of 57-year-old is back on the job of centering is done on the management of the fortune, of which he is the global leader in today’s to the point of being “the bank of nearly half of the billionaires in the world.” It highlights the role of organizer of meetings between the grandes fortunes, “events of speed-dating sophisticated”. A little in the way of the app Tinder, says the american magazine. The private bank of BNP has also designed an app for networking between millionaires.

When asked about his role models in strategy, the swiss banker cited two technology firms, who are returning from a far :

“When I arrived, I said that I wanted that UBS either the Apple or the IBM financial services : of glory the edge of death, and then return to the top,” he says.

| Also read : When the private bank draws on startups and Facebook

Artificial Intelligence and human contact

Called to plan in the coming decade, the general director of UBS foresees profound changes :

“The impact of technology over the next 10 years will be very close to that of the regulation over the last ten years. It is not a Big Bang : it will be very progressive. But everything will be so much faster, more efficient. Instead of 50, you will be able to serve 100 clients and a lot more sophisticated.”

Artificial intelligence and robots-advisors have made their entrance in this universe, where the clients are ultra-connected. He acknowledges that “the technology will help us to reduce the cost structure. But it will have to reinvest these savings in order to keep technological capabilities to the height”. As to the impact in terms of employment, the boss of switzerland responds :

“I don’t teach you anything : we see a strong contraction of the workforce in our sector. […] Take a look at UBS, we employ a significant number of people – nearly 95.000 including sub-contractors. It may be 30% less, but jobs will be much more interesting, the content of which human will be key for the service rendered to customers”, argues Sergio Ermotti.

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