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"We
have seen client interest in financial markets increasing,"
Collardi told Reuters. "With stocks going up, you have assets
going up, transaction volumes going up, which is all a positive
for the banks because we have more assets, more revenues."
Over the medium to long term, banks also stand to gain from
deregulation in a sector increasingly saddled with mounting
compliance efforts since the 2008 financial crisis, he said.
Speaking earlier at a conference in Berne about the implications
of Britain's decision to exit the European Union, Collardi
warned Switzerland should not unnecessarily cut off any
negotiating possibilities amid a changing political landscape
and uncertain future for the EU.
While the consequences of Brexit will remain manageable for
Swiss banks in the foreseeable future, Switzerland stands little
chance of gaining significantly from the weakness of London's
financial center, he said.
This year would be a year of many changes and he expected
consolidation in Europe's banking sector over the medium term.
"As long as the cost of money remains low and stock valuations
go up, we could be in a positive environment for M&A," Collardi
said.
"We still have overcapacity in the European banking sector. I
could imagine that some of the Swiss banks, based on their
strength, may continue to take advantage of international M&A
opportunities."
(Editing by Mark Heinrich)
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