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UBS chief on the markets’ AI error, M&A and that Credit Suisse rescue

The Australian Financial Review (AFR) •
November 09, 2026 • 06:01 AM
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The Swiss giant’s global CEO, Sergio Ermotti, says markets are overestimating the near-term impact of artificial intelligence – and underestimating geopolitics.

UBS chief on the markets’ AI error, M&A and that Credit Suisse rescue

For several months, UBS chief executive Sergio Ermotti has been warning anyone who will listen that global markets have become complacent.

But with the artificial intelligence trade now looking decidedly wobbly , and Wall Street still licking its wounds from last week’s dramatic sell-off, Ermotti certainly isn’t in I-told-you-so mode.

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