UBS Executive Says Investors Hyperventilating Over Normal Swings

The recent turbulence that’s roiled financial markets shouldn’t be feared -- it’s normal, according to the co-head of UBS Group AG’s wealth-management unit.

“It’s quite surprising how what would be considered a relatively normal amount of volatility, if you think back a decade or two ago, now we’re hyperventilating about what are pretty normal market moves,” Tom Naratil, co-president of global wealth management at UBS, said in an interview in New York. “It brings more opportunities for us. We’re in the advice business, and uncertainty actually increases demand for advice.”