UBS Group (UBSG) Goldman Sachs 30th Annual European Financials Conference 2026 summary

Market and client activity trends

• Clients remain engaged but cautious amid macro uncertainty and geopolitical tensions, with healthy activity levels and resilient markets, especially in mega cap tech and semiconductors.

• Volatility persists, with investors seeking diversification and downside protection through structured products; no major shifts in asset allocation observed.

• UBS Manage saw CHF 38 billion in net new fee-generating assets in Q1, with record mandate penetration.

Regional performance and strategy

• Asia Pacific momentum is driven by China tech, Hong Kong IPOs, and AI hardware in Taiwan and Korea, with positive client sentiment and strong profitability.

• UBS holds a leading position in Asian wealth management, especially among upper high net worth and ultra-high net worth clients, leveraging a strong research and investment banking franchise.

• U.S. wealth management initiatives focus on increasing profitability, lending growth, and technology investment, with a nationally chartered bank launch planned for H2 2027.

• U.S. business aims for margin improvement, targeting 15% for the full year and 18% by 2028, with flows expected to exceed CHF 125 billion in 2024.

Business model and competitive positioning

• The globally diversified business model delivers balanced profit before tax across regions, enabling synergies in solutions, technology, and best practices.

• Global scale and collaboration between wealth management and investment banking are seen as unique differentiators, especially in alternatives.

• Integration of Credit Suisse strengthens competitive positioning, with continued investment in technology and innovation.