UBS CEO Sergio Ermotti warned that financial markets have grown complacent even as investors contend with wars, trade tensions, higher borrowing costs and persistent inflation, saying recent market stability does not reflect the number of risks facing the global economy.
"There has been a level of complacency in financial markets in the last few years," Ermotti told CNBC on Thursday. Given the economic and geopolitical environment, he said he would have expected considerably higher market volatility.
