UBS CEO Ermotti on Credit Suisse, Buyback, Volatility
Speakers
Sergio Ermotti
— Group CEO, UBS
Summary
UBS CEO Sergio Ermotti discusses strong quarterly results driven by the Credit Suisse integration, which is nearly complete, and announces a $3 billion share buyback program. He expects continued market volatility in 2025 due to macro and geopolitical risks, and addresses Swiss regulatory capital debates while expressing confidence in meeting full-year targets.
- Credit Suisse integration is almost done, with synergies and top-line momentum visible.
- UBS reports a 45% increase in underlying pre-tax profit and $7.3 trillion in managed assets.
- A new $3 billion share buyback program is announced, with a $1 billion minimum in the first three months.
- CEO Ermotti expects spikes of volatility to continue for the rest of the year.
- Volatility is driven by macro, geopolitical, and energy-price pressures on inflation.
- UBS will present a growth plan including AI-driven efficiency gains in early 2027.
- Disagreement persists with Swiss authorities over the impact of proposed capital regulations.
Ideas
Integration success and buyback boost UBS.
UBS's integration of Credit Suisse is almost complete, delivering strong momentum with a 45% increase in underlying pre-tax profit, assets up to $7.3 trillion, and a new $3 billion buyback program. The CEO is confident in achieving full-year targets and sees the bank returning to top-tier capital returns after absorbing Credit Suisse.
Volatility spikes to persist all year.
The macro picture, geopolitics, market dispersion, and energy price pressures are creating inflation headwinds that investors will dislike, leading to continued spikes of volatility for the rest of the year.
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This Bloomberg Markets video, published July 29, 2026, features Sergio Ermotti discussing UBS, VIX. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Sergio Ermotti · Tickers: UBS, VIX