Peter Wuffli - Quotes

Quotes

He announced that executive salaries at UBS AG were rising, on average, by 21 percent.

• "UBS recognizes that very serious mistakes were made."
  –after UBS AG was fined on May 10, 2004, $100 million by the U.S. Federal Reserve for illegally transferring dollars from a Fed deposit – an account set up by the Fed in a commercial bank – at UBS AG to Iran, Cuba and other countries under a U.S. trade embargo.

• "I understand that many ask critical questions about whether high profits and job cuts are justifiable. I do not get a bad conscience about that, I am pleased about UBS's success."
  –in an interview with the weekly SonntagsZeitung, 2004

• "A banker is, naturally, not liked." ("Ein Banker ist von Natur aus nicht beliebt.")
  –in an interview with the weekly Weltwoche 16/03

• "I am proud of what I do and I am proud if we have successes."
  –in an interview with Swissinfo November 7, 2002

• "We do have an erosion of confidence and I think if you go back in history every bubble has basically led to abuses, to fraud, to unethical behaviour and we’re seeing the same."
  –in an interview with Swissinfo, November 7, 2002

• "The question is: whom do you compare an executive with? Traditionally an executive is compared with a fixed wage employee. ... We should ... compare them much more with entrepreneurs than with fixed-wage salaries."
  –in an interview with Swissinfo, November 7, 2002

• "A company is only as ethical as its people."