UBS's Ermotti Says Trade Tensions Are Hurting Client Trades
- CEO says uncertainty is weighing on market valuations in Asia
- Asian growth will be less predictable in future, Ermotti says
This article is for subscribers only.
UBS Group AG Chief Executive Officer Sergio Ermotti said trade tensions are adding to client uncertainty and weighing on trading revenue from Asian wealth clients after U.S. President Donald Trump slapped $200 billion of tariffs on Chinese goods.
“It’s probably even worse than what I saw 2015,” Ermotti said in an interview with Bloomberg TV’s Manus Cranny on Thursday. “Trade tensions are adding more uncertainty, you can feel it. Somehow, it’s reflected in market valuations -- look at where the Chinese and Hong Kong market are pricing."