Latest news with #UBSGroup
Bloomberg
3 days ago
- Business
- Bloomberg
Riskier Fringes of Market Are Leaving Blue-Chip Stocks Behind
The riskiest corners of the US stock market are on pace for the biggest gain since November relative to larger and more stable peers, a vote of confidence in the economy's resilience amid uncertainty about tariffs. A UBS Group AG basket of 100 stocks with low scores on measures including financial health or efficiency — names like AMC Entertainment Holdings Inc. and GameStop Corp. — is up 11% in May, triple the advance of the blue-chip Dow Jones Industrial Average and almost double that of the S&P 500 Index.
Bloomberg
4 days ago
- Business
- Bloomberg
UBS' Wang on China's Economic Growth Prospects
Wang Tao, Head of Asia Economic Research and Chief China Economist at UBS, discusses her outlook for China's economic growth. She speaks with David Ingles at the "UBS Asian Investment Conference" in Hong Kong. (Source: Bloomberg)
Fintech News ME
4 days ago
- Business
- Fintech News ME
UBS Expands to Abu Dhabi as More Millionaires Move to Middle East
European banking giant UBS Group is establishing a new office in Abu Dhabi, aiming to tap into the growing number of wealthy individuals relocating to the Middle East, according to Bloomberg. The ultra-rich have increasingly been moving away from high-tax countries such as the United Kingdom, opting instead for the region's favourable low-tax environment. 'The Middle East has definitely been a winner for private individuals that have been moving away from higher-tax regimes, other places and other locations like the UK,' said Beatriz Martin Jimenez, president of UBS's businesses across Europe, the Middle East, and Africa. She made the remarks during the Qatar Economic Forum in Doha. Over the past decade, the number of resident millionaires in the UAE capital has risen by 80%, according to data from Henley & Partners. The city is also expected to see its population of centi-millionaires more than double over the next ten years.
Business Times
5 days ago
- Business
- Business Times
UBS's Iqbal Khan sees rich customer demand for alternative assets
[HONG KONG] Wealthy customers of UBS Group are looking to buy more alternative assets as they seek to diversify investments during a volatile period for markets and global trade, according to the firm's Asia-Pacific chief. 'We see continued demand' for alternatives, Iqbal Khan, the bank's regional president, said in an interview with Bloomberg TV in Hong Kong at the UBS Asian Investment Conference on Wednesday (May 28). In the Asia Pacific, UBS is the biggest wealth manager with more than 900 client advisers. It faces rising competition from the likes of HSBC Holdings and regional lenders such as DBS Group Holdings. 'We have definitely seen a significant growth of alternatives and alternatives investments in client portfolios,' he said. 'It is still at a lower percentage when you think about an aggregated perspective of wealth portfolios. So there is probably some ways to go in terms of diversification into alts.' Khan, who relocated to Hong Kong last year and is also co-president for global wealth management, said he expects lower interest rates and continues to see the potential for a stagflation environment. The bank's markets unit posted a record performance during the first quarter, as geopolitical turmoil spurred volatility and a surge in trading. 'While we will see rates coming down, it is question of timing,' he said. Khan was tapped for the Asia-Pacific role in 2024 as part of a shakeup that saw investment banking chief Rob Karofsky appointed to run the US business and jointly oversee private banking. The two are key contenders to succeed chief executive officer Sergio Ermotti, who is likely to step down by early 2027. UBS, which took over embattled rival Credit Suisse in 2023 as part of a rescue, is in a standoff with the Swiss government over how much capital it should hold to deal with future crises. UBS has cut more than 10,000 jobs and reduced costs since it bought Credit Suisse. The lender said in February it has achieved US$7.5 billion of the US$13 billion in total savings it's seeking to extract from the acquisition. BLOOMBERG
Bloomberg
5 days ago
- Business
- Bloomberg
UBS's Khan Sees Rich Customer Demand for Alternative Assets
Wealthy customers of UBS Group AG are looking to buy more alternative assets as they seek to diversify investments during a volatile period for markets and global trade, according to the firm's Asia Pacific chief. 'We see continued demand' for alternatives, Iqbal Khan, the bank's regional president, said in an interview with Bloomberg TV in Hong Kong at the UBS Asian Investment Conference on Wednesday.
