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Shrinking Is Not An Option: UBS CEO on Capital Rules and 'Deal Of The Century'
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July 30, 2025
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13:28Now PlayingUBS CEO Sergio Ermotti discusses the Zurich-based bank’s performance in the second quarter with Francine Lacqua as the lender posted higher than expected profit in the second quarter, and signaled that the prospect of cooling global trade tensions should support results as investor activity revives.
The Zurich-based bank said Wednesday that net income was $2.4 billion in the three months to June. Client inflows at the key wealth management unit reached $23 billion, in line with forecasts.
“Our client conversations and deal pipelines indicate a high level of readiness among investors and corporates to deploy capital, as conviction around the macro outlook strengthens,” the bank said in its outlook.
As the biggest global wealth manager, UBS has been warning for months that uncertainty over US President Donald Trump’s tariff plans was keeping investors on the sidelines and clogging up deals. Signs that major trading partners including the European Union and Japan are coming to terms with the White House are dispelling some fears while unpredictability remains.
“First of all we need to reach agreements, and then they need to see that there is a degree of predictability and stability in these agreements,” UBS Chief Executive Officer Sergio Ermotti said in an interview with Bloomberg Television’s Francine Lacqua in Zurich.
UBS’s performance for the quarter was aided by results at the investment bank, in particular by a 20% boost in equities trading revenue that was in line with US peers. The result was also driven by technical factors, including a slight profit in the loss-making unit that winds down former Credit Suisse assets, and the release of provisions related to a legacy legal case.
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