UBS’s shares have increased by about 40% in the last year, contributing to its impressive market valuation. However, because of “execution risk in the Credit Suisse integration,” as noted by Citi analyst Andrew Coombs, it makes the stock more susceptible to drops. The new regulatory ideas, he continued, have created “greater uncertainty” regarding the stock’s worth.

On Wednesday, Kelleher emphasized the deal’s benefits once more while stating that there was still “a long way to go” before it was successful.

He said that the deal “cements” UBS’s position as the “preeminent global wealth manager” and adds client assets equal to seven to ten years of organic growth.

However, he continued, “It is essential that our regulatory policies ensure a level playing field in order to maintain this competitive edge.” To put it another way, Swiss regulations need to continue to be generally in line with international norms.

Additionally, Kelleher supported Sergio Emmott, the CEO of UBS, in his 2023 compensation plan, which was heavily criticized by shareholders. “He possesses the most difficult task in the global financial services sector, and he has succeeded in it,” the speaker stated.

Emmott became the highest-paid bank CEO in Europe in 2023, with a salary of 14.4 million Swiss francs ($15.9 million), according to Reuters.

Switzerland warns UBS might require further funding. The bank is enraged.
Switzerland warns UBS might require further funding. The bank is enraged.

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