UBS CEO not overly concerned about US tariffs

UBS faces the potential negative impact of trade disputes on its business without any particular anxiety. Group CEO Sergio Ermotti said he was "not overly concerned" about the financial targets: year after year the bank has managed to succeed in very difficult market environments, the executive stressed. The institution continues to have things under control, the 64-year-old concluded at the press conference presenting the group's quarterly results. The integration of Credit Suisse is progressing well and the planned further cost savings will have a positive impact on the results. What might happen in the economy in the longer term and outside UBS has yet to be analysed: in the short term, however, Ermotti claimed that he is not particularly concerned about the tariff measures imposed by US President Donald Trump. Even the share buybacks hitherto planned are not in danger, unless there is a huge deterioration in the economic outlook, continued, according to the UBS CEO. More ...