---
title: "1 Value Chain Quotes By Sergio Ermotti"
description: "1 Value Chain quotes by Sergio Ermotti. Plus more from Sergio Ermotti and more Value Chain sayings from other authors."
image: "https://sms4smile.com/quotes/i/27c/sergio-ermotti-23238_financial-services_there-s-no-understandable-reason-why-the_2626909.jpg"
---

> [There's no understandable reason why the financial services industry has not developed a more comprehensive sharing of the value chain.](https://sms4smile.com/quotes/sergio-ermotti/there-s-no-understandable-reason-why-the-financial-services-industry/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

[Image](https://sms4smile.com/quotes/i/27c/sergio-ermotti-23238_financial-services_there-s-no-understandable-reason-why-the_2626909.jpg)

## More by Sergio Ermotti

> [Can a bank that is part of this society be sure that it has no bad apples? No, because, like in all other industries…](https://sms4smile.com/quotes/sergio-ermotti/can-a-bank-that-is-part-of-this-society-be-sure-that-it-has-no-bad/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [In 1987, Merrill Lynch asked me to open a Swiss capital markets operation. I was 27. In hindsight, I was lucky enough to start…](https://sms4smile.com/quotes/sergio-ermotti/in-1987-merrill-lynch-asked-me-to-open-a-swiss-capital-markets/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [People should never take things for granted.](https://sms4smile.com/quotes/sergio-ermotti/people-should-never-take-things-for-granted/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Philanthropic funding can play a vital role in testing and stimulating innovation that, when proven, can be implemented at scale by business or government.](https://sms4smile.com/quotes/sergio-ermotti/philanthropic-funding-can-play-a-vital-role-in-testing-and/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Many businesses in an investment bank, not only at UBS, are structurally a loss leader, so they don't pay for the cost of capital.](https://sms4smile.com/quotes/sergio-ermotti/many-businesses-in-an-investment-bank-not-only-at-ubs-are/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [We have to have a business model that can be a sustainable and acceptable one to both regulators and the other stakeholders, clients, and…](https://sms4smile.com/quotes/sergio-ermotti/we-have-to-have-a-business-model-that-can-be-a-sustainable-and/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [If I have to tell you what was and is my mission, I think UBS can be the Apple or IBM of the banking…](https://sms4smile.com/quotes/sergio-ermotti/if-i-have-to-tell-you-what-was-and-is-my-mission-i-think-ubs-can-be/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Wealth management businesses are capital light businesses.](https://sms4smile.com/quotes/sergio-ermotti/wealth-management-businesses-are-capital-light-businesses/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [While government clearly plays the major role in fighting poverty through policies on things such as education, tax, and trade, business creates the wealth…](https://sms4smile.com/quotes/sergio-ermotti/while-government-clearly-plays-the-major-role-in-fighting-poverty/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Everything is always feasible if you run a corporate finance exercise: you can always try to come out with a justification on how things…](https://sms4smile.com/quotes/sergio-ermotti/everything-is-always-feasible-if-you-run-a-corporate-finance-exercise/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Growth is what solves most of the big economic and social problems: poverty, government deficits, quality of life, rising healthcare and retirement costs.](https://sms4smile.com/quotes/sergio-ermotti/growth-is-what-solves-most-of-the-big-economic-and-social-problems/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [When you start to get shareholders, clients, employees, rating agencies, and everybody converging, and then your competitors bad-mouth you, you know you did the…](https://sms4smile.com/quotes/sergio-ermotti/when-you-start-to-get-shareholders-clients-employees-rating-agencies/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Today's investors want to see a positive impact on society and the environment as well as solid financial returns.](https://sms4smile.com/quotes/sergio-ermotti/today-s-investors-want-to-see-a-positive-impact-on-society-and-the/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [Impact investment is an important business driver, and more importantly, it is a business driver because clients want it.](https://sms4smile.com/quotes/sergio-ermotti/impact-investment-is-an-important-business-driver-and-more/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

> [I'm totally convinced that the battleground of banking is not the front office. The battleground is the back end.](https://sms4smile.com/quotes/sergio-ermotti/i-m-totally-convinced-that-the-battleground-of-banking-is-not-the/)

[Sergio Ermotti](https://sms4smile.com/quotes/author/sergio-ermotti/)

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