{
Sergio Ermotti

People

}
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ubs reports billion profit and plans further expansion after credit suisse integration

UBS reported a profit of USD 1.43 billion for Q3 2024, a significant recovery from a USD 715 million loss in the same quarter last year, driven by strong performance across its business segments and successful integration of Credit Suisse. The bank attracted nearly USD 25 billion in new money, managing total assets of USD 6,199 billion by the end of September. Despite a cautious outlook due to geopolitical uncertainties, UBS remains committed to its dividend and share buyback plans, with Chairman Colm Kelleher aiming to lead for another five years while seeking to expand in the U.S. asset management market post-integration.
finanzen.ch
Swiss Franc United States Dollar Jefferies Financial Group Inc. Smith Barney Inc. UBS AG Credit Suisse Anlagestiftung Morgan Stanley JPMorgan Chase & Co. The Goldman Sachs Group, Inc. CHE USA Colm Kelleher Sergio Ermotti Andreas Venditti Michael Klien Show more
TradFi, Market Report
11:46 30.10.2024

us elections set to impact global markets amid economic uncertainties

UBS CEO Sergio Ermotti warns that the upcoming U.S. elections will significantly impact global markets, regardless of the winner. He anticipates market volatility and notes that both candidates are likely to exacerbate the U.S. budget deficit, projected to reach $2 trillion in 2024. Financial regulation may tighten under a Harris administration, reflecting the Biden administration's approach to banking oversight.
CNBC
United States Dollar Euro Signature Bank Silicon Valley Bank T. Rowe Price Group, Inc. Pictet Asset Management AG UBS Group AG CHN USA Kamala Harris Donald Trump Sergio Ermotti Joe Biden Annette Weisbach Show more
Finance & Economy, Market Report
11:26 30.10.2024

us election expected to impact global markets amid budget deficit concerns

UBS CEO Sergio Ermotti warns that the upcoming U.S. elections will significantly impact global markets, regardless of the winner. Both candidates, Kamala Harris and Donald Trump, are expected to exacerbate the U.S. budget deficit, currently at $1.8 trillion, while market volatility is anticipated as investors react to the electoral outcome. As markets prepare for the November 5 polls, there are concerns about inflation and trade protectionism, with a potential increase in public debt globally. UBS aims to support clients through this uncertainty, leveraging its strong capital position.
CNBC
United States Dollar Signature Bank T. Rowe Price Group, Inc. UBS Group AG Pictet Asset Management AG Silicon Valley Bank USA Joe Biden Donald Trump Annette Weisbach Sergio Ermotti Kamala Harris Show more
TradFi, Market Report
11:26 30.10.2024

ubs reports strong third quarter profits driven by cost cuts and growth

UBS reported strong third-quarter results, with revenues of $12.3 billion, up 5% year-on-year, and net profits of $1.4 billion, nearly double analyst expectations. The bank's global wealth management and investment banking divisions performed well, benefiting from cost-cutting measures and strong client momentum, particularly in the Americas and Asia. Following the completion of its merger with Credit Suisse, UBS anticipates achieving $7.5 billion in cost reductions this year.
Sharecast
United States Dollar UBS AG Credit Suisse Anlagestiftung CHE Sergio Ermotti Credit Suisse
TradFi, Market Report
11:20 30.10.2024

ubs faces integration challenges and capital requirements after strong quarterly results

UBS reported a net profit of $1.4 billion in Q3, with strong client inflows of $25 billion, while successfully cutting costs by $0.8 billion. However, the integration of Credit Suisse remains challenging, particularly with the upcoming migration of customer data in Switzerland, set to begin in early 2025. Additionally, potential capital requirements from the Federal Council could impact UBS's competitiveness, as the bank seeks to return to its previous profit levels.
finews.com
United States Dollar UBS AG Credit Suisse Anlagestiftung SGP LUX CHE HKG JPN Sergio Ermotti Show more
Finance & Economy, Market Report
11:18 30.10.2024

ubs reports profit growth and plans us acquisitions after credit suisse integration

UBS's global wealth management arm reported a pre-tax operating profit of $1.085 billion for Q3 2024, up from $926 million a year prior, driven by higher recurring net fees and transaction-based income. The bank is eyeing US acquisitions to expand its presence post-Credit Suisse integration, which is expected to unlock significant cost savings by 2025. Total pre-tax profit for the group reached $1.929 billion, a notable recovery from a loss of $184 million the previous year.
wealthbriefingasia.com
United States Dollar UBS AG SGP JPN USA HKG CHE LUX Sergio Ermotti Colm Kelleher Show more
TradFi, Market Report
11:14 30.10.2024

ubs reports strong quarterly profit amid credit suisse integration progress

UBS reported strong quarterly profits driven by Global Wealth Management and Investment Banking, with significant progress in integrating Credit Suisse. CEO Sergio Ermotti noted that while the bank is ahead of schedule in restructuring, achieving pre-merger profitability remains a long-term goal. The share price reached a multi-year high following the positive results.
finews.ch
Swiss Franc UBS AG CHE Sergio Ermotti Todd Tuckner
TradFi, Market Report
11:09 30.10.2024

UBS reports strong third-quarter earnings amid Credit Suisse integration challenges

UBS Group AG reported a third-quarter net profit of $1.4 billion, surpassing analysts' expectations due to cost reductions and revenue growth. Total revenues reached $12.3 billion, exceeding forecasts, while the integration of Credit Suisse is progressing ahead of schedule, with client migrations underway. However, concerns over new regulations and the need for improved contingency plans following Credit Suisse's collapse could impact the bank's competitiveness and client confidence.
Investing.com France
United States Dollar Reuters Ltd. UBS Group AG S&P 500 Index CTF FUND Credit Suisse Anlagestiftung SGP JPN HKG CHE LUX Sergio Ermotti Reuters Show more
TradFi, Market Report
10:58 30.10.2024

ubs chairman plans five more years to find successor and expand in us

Colm Kelleher, Chairman of UBS, plans to extend his tenure for another five years, aiming for a total of eight years in leadership. He emphasizes the importance of finding a suitable successor for CEO Sergio Ermotti and allowing them time to acclimate before his departure in 2029. Kelleher also expressed interest in acquiring a U.S. asset manager post-Credit Suisse integration to enhance UBS's presence in the U.S. market.
finanzen.ch
United States Dollar UBS AG Credit Suisse Anlagestiftung Morgan Stanley CHE Sergio Ermotti Colm Kelleher Show more
TradFi, News Article
10:48 30.10.2024

ubs reports strong q3 profit and significant net new assets growth

UBS reported a pre-tax profit of $1,929 million for Q3 2024, significantly exceeding analyst estimates, with net income of $1,425 million. The bank achieved $25 billion in net new assets, driven by strong transactional activity and recurring fee income, while operating expenses decreased by 12% year-on-year. CEO Sergio Ermotti highlighted the firm's robust client momentum and commitment to efficiency amid ongoing integration efforts with Credit Suisse.
@repubblica
United States Dollar UBS AG CHE Sergio Ermotti
TradFi, Market Report
10:48 30.10.2024
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