As CEO of one of the world’s largest wealth managers, Ermotti said that he’s advising clients to be well diversified in the current environment and that he doesn’t see much risk appetite at the moment. For now, consumers and the economy and “still resilient” despite uncertainty around the economic and political outlook.
The incoming US administration’s potential move to raise tariffs on trading partners could combine with conflicts around the globe to increase risk in financial markets next year, according to the chief executive of UBS Group.
“The acceleration of geopolitical events coupled with escalation on the macroeconomic fronts - tariffs, protectionism — it’s definitely something that has to be watched,” Sergio Ermotti said in a Bloomberg Television interview on the sidelines of Abu Dhabi Finance Week on Monday. “It’s still very uncertain, we’re going to see a lot of volatility in markets.”
