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Opinion
Paul J. Davies

UBS Risks Burying a Strong, Simple Story in Jargon

CEO Hamers lauds the bank as “the orchestrator of the value flow.”

Ralph Hamers, chief executive officer of UBS Group AG

Ralph Hamers, chief executive officer of UBS Group AG

Photographer: Krisztian Bocsi/Bloomberg

UBS Group AG has a simple story to tell, but Chief Executive Officer Ralph Hamers uses an awful lot of words to tell it.

Business is humming and the Swiss bank is investing in technology to sell more products more efficiently. But for Hamers UBS is offering products that are both "holistic" and "bespoke"; cross-selling is recast as "curation" and "matchmaking." Obviously, everything is "connected" in some way and, of course, "thought leadership is impactful." Almost slipping into rapture, he envisioned the business as “such a beautiful ecosystem.” UBS isn’t bank or a wealth manager but “the orchestrator of the value flow.”