A 'degree of tolerance' for honest mistakes.
UBS CEO Sergio Ermotti told executives that a 'degree of tolerance' for honest mistakes should be fostered so the fear of errors doesn’t paralyse business, according to a person with knowledge of the remarks.
Bloomberg News reports that employees might avoid pursuing legitimate opportunities due to a culture of caution that has spread through banking since the financial crisis, Ermotti told about 300 executives in Zurich, said the person, who asked not to be named because the comments weren’t public.
The Financial Times reported on the meeting earlier.
To access the complete Bloomberg News article hit the link below: