(Bloomberg) — UBS Team AG is having a “close look” at opportunities to increase in the U.S. immediately after the area aided offset a slowdown in its Asian non-public banking organization, Chief Government Officer Ralph Hamers stated in an interview.
Most Read through from Bloomberg
The Swiss prosperity manager, which in January agreed to obtain robo-adviser Wealthfront, noticed “a genuine pickup of demand” in the U.S. and Europe in the first quarter, even as shopper activity in Asia slowed, Hamers said in an interview on Bloomberg Television set.
“It’s a very critical geography for us, it is strategic,” Hamers claimed about the U.S. “So the place we can we will definitely hold our eyes open up.”
UBS on Tuesday noted far better-than-expected income as its investing device benefited from shoppers trying to get to defend themselves from the financial impact of higher fascination charges and the war in Ukraine. Hamers mentioned uncertainty about fuel and oil shipping and delivery will keep on to weigh on world economies as the war continues.
“On the marketplace side it was a actually good quarter, a document quarter,” he stated. “It’s just that the fairness money markets facet dried up for the reason that of the uncertainty in the markets.”
Hamers mentioned the bank had “quite a good guide with much more senior roles than ever” in that organization, though “the timing of these transactions coming to industry no one can predict at this instant.”
Most Read from Bloomberg Businessweek
©2022 Bloomberg L.P.