Deals
UBS CEO Ermotti Says Volatility Shouldn’t Frighten Clients
- CEO says hedging is an ‘absolute must,’ warns on complacency
- Urges ‘focused’ consolidation for Europe banking sector
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UBS Group AG Chief Executive Officer Sergio Ermotti said investors shouldn’t take fright after political turmoil in Italy sent tremors through global financial markets in recent weeks.
“We are recommending clients to still be in the market,” Ermotti said in an interview with Bloomberg Television in Zurich on Tuesday. “The underlying profitability, the growth that we see are still supportive of equities in general terms. But we are also very careful in signaling that cyclicality may come in, the geopolitical risk may be there.”