Q2 2025 UBS Group AG Earnings Call

And sustained robust momentum.

Sergio Ermotti: In Volatility, we stay close to clients and sustain robust momentum. Our strong results highlight the power of our differentiated business model and diversified global footprint. We are also maintaining our balance sheet for all seasons and steadily improving our risk-adjusted returns since the acquisition of Credit Suisse. Private and institutional client activity was robust across all our regions this quarter. In Wealth Management, we continue to attract flows into discretionary solutions and sow ongoing improvement in demand for loans. In Asset Management, we are unlocking the benefits of greater scale and enhanced capabilities, particularly in our Unified Global Alternatives Unit.

[Company Representative] (UBS Group): In volatility, we stay close to clients and sustain robust momentum. Our strong results highlight the power of our differentiated business model and diversified global footprint. We are also maintaining our balance sheet for all seasons and steadily improving our risk-adjusted returns since the acquisition of Credit Suisse. Private and institutional client activity was robust across all our regions this quarter. In Wealth Management, we continue to attract flows into discretionary solutions and saw ongoing improvement in demand for loans. In Asset Management, we are unlocking the benefits of greater scale and enhanced capabilities, particularly in our Unified Global Alternatives unit. In Switzerland, we remain a reliable partner for the economy, supporting our clients in their activities both at home and abroad. In the Investment Bank, Global Markets delivered a record Q2, while Global Banking continued to strengthen our deal pipeline.

Our strong results highlight the power of our differentiated business model and diversified global footprint. We are also maintaining our balance sheet for all seasons and steadily improving our risk adjusted returns since the acquisition of credit Suisse. Prior.

Private and institutional client activity was robust across all our regions this quarter.

Wealth management, we continue to attract flows into discretionary solutions and so ongoing improvement in demand for loans.

As a management, we are unlocking the benefits of greater scale and enhance capabilities, particularly in our unified global alternatives unit.

Switzerland, we remain a reliable partner for the economy supporting our clients in their activities both at home and abroad.

Sergio Ermotti: In Switzerland, we remain a reliable partner for the economy, supporting our clients in their activities both at home and abroad. And in the investment bank, global markets delivered a record second quarter, while global banking continued to strengthen our deal pipeline. At the same time, we further advance our integration efforts, which remain fully on track. Recently, we completed the migration of Credit Suisse client accounts booked outside of Switzerland. We also moved 400,000 client accounts booked in Switzerland. We are on track to transfer another 500,000 clients by the end of this year and the migration is set to be fully completed in early 2026.

And in the investment Bank global markets delivered a record second quarter why global banking continued to strengthen our deal pipeline.

At the same time, we further advance our integration efforts, which remain fully on track.

[Company Representative] (UBS Group): At the same time, we further advanced our integration efforts, which remain fully on track. Recently, we completed the migration of Credit Suisse client accounts booked outside of Switzerland. We also moved 400,000 client accounts booked in Switzerland. We are on track to transfer another 500,000 clients by the end of this year, the migration is set to be fully completed in early 2026. We also further simplified our operations and made good progress in our active wind-down efforts. Our continued momentum is generating capital, allowing us to become a stronger partner for clients and strategically position UBS for the future. We are making targeted investments in the Americas to support our advisors and improve profitability. We are also leveraging our position in APAC to drive growth while reinforcing our leadership in EMEA and Switzerland.

Recently, we completed the migration of credit Suisse client accounts booked outside of Switzerland.

We also moved 400000 client accounts booked in Switzerland.

We are on track to transfer another 500000 clients by the end of this year and the migration is said to be fully completed in early 2026.

We also further simplified our operations and made good progress in our active wind down efforts.

Sergio Ermotti: We also further simplified our operations and made good progress in our active wind-down efforts. Our continued momentum is generating capital, allowing us to become a stronger partner for clients and strategically position UBS for the future. We are making targeted investments in the Americas to support our advisors and improve profitability. We are also leveraging our position in AIPAC to drive growth while reinforcing our leadership in EMEA and Switzerland. Supporting these objectives is a consistent investment in infrastructure and AI to increase resilience, enhance client service, and support our employees. We are also extending access to co-pilot so all of our colleagues can benefit from Gen-AI.

Our continued momentum is generating capital, allowing us to become a stronger partner for our clients and strategically position UBS for the future.

We are making targeted investments in the Americas to support our advisors and improve profitability.

We are also leveraging our position in APAC to drive growth, while reinforcing our leadership in EMEA and Switzerland.

Supporting these objectives is a consistent investment in infrastructure and AI to increase resilience enhance client service and support our employees.

[Company Representative] (UBS Group): Supporting these objectives is a consistent investment in infrastructure and AI to increase resilience, enhance client service, and support our employees. We are also extending access to Copilot so all of our colleagues can benefit from Gen AI. Of course, another big topic right now is the proposed banking reform in Switzerland. We support most proposals put forward by the Federal Council on 6 June. However, we strongly disagree with the proposed capital requirements, which would make Switzerland an outlier among the world financial centers. We are committed to contributing to the public debate with transparency and accountability to serve the interests of our shareholders, clients, employees, and the Swiss economy.

We are also extending access to co pilot so all of our callers can benefit from Gen AI.

Of course, another big topic right now is the proposed banking reform in Switzerland.

Sergio Ermotti: Of course, another big topic right now is the proposed banking reform in Switzerland. We support most proposals put forward by the Federal Council on June 6th. However, we strongly disagree with the proposed capital requirements which would make Switzerland an outlier among the world's financial centres. We are committed to contributing to the public debate with transparency and accountability to serve the interests of our shareholders, clients, employees and the Swiss economy. In the meantime, I'm confident we can continue to deliver on what's within our control. Serving clients, completing the integration, supporting the communities where we live and work, and positioning UBS for long-term success for the benefit of all stakeholders.

We support most proposals put forth by the Federal Council on June six.

However, we strongly disagree with the proposed capital requirements, which would make Switzerland, an outlier among award financial centers.

We are committed to contributing to the public debate with transparency and accountability to serve the interests of our shareholders clients employees and the Swiss economy.

In the meantime, I'm confident we can continue to deliver on what's within our control serving clients completing the integration supporting the communities, where we live and work and position UBS for long term success for the benefit of all stakeholders.

[Company Representative] (UBS Group): In the meantime, I'm confident we can continue to deliver on what's within our control, serving clients, completing the integration, supporting the communities where we live and work, and positioning UBS for long-term success for the benefit of all stakeholders.

[music].

Sure.

With respect.

With respect.

With respect.

With regard.