The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

UBS: Star performer poorly marked

Earnings were positive in 2017, but it's a shame about the share price

Since the financial crisis, UBS has been the oft-cited poster child for how to turn a business around and create a sustainable franchise in modern banking. But in 2016 the Swiss bank arguably became a victim of its own success – its performance was safe, steady, still at the head of the industry by many metrics. But UBS became, dare we say it, a little boring.

As chief executive Sergio Ermotti has pointed out to Euromoney, there is something rather positive about being considered boring in modern finance. It speaks to stability and the benefits of balance and diversification. But 2016 was still a disappointing year for UBS, hampered by the downturn in Asian markets and the importance of US markets where, wealth management aside, it is not so relevant. 

On the flipside, the markets were much more to UBS’s liking in 2017, and all of a sudden, its performance became rather interesting and, dare we say it, exciting again. 

“International clients became more positive again, we saw growth in transaction revenues, better trading performance and a big rebound in our CCS [Corporate Client Solutions] business,” says Kirt Gardner, chief financial officer of UBS.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree