Jan 20th, 2026

UBS CEO Says It’s Dangerous to Dump US Assets

“Diversifying away from America is impossible,” UBS Chief Executive Officer Sergio Ermotti tells Bloomberg's Jonathan Ferro at the World Economic Forum in Davos, Switzerland. They spoke on Jan. 20. (Correct: video has been edited to remove the guest’s misstatement about the number of new millionaires in the US last year.)