UBS CEO Sergio Ermotti discusses the outlook for the bank, progress on the integration of Credit Suisse, and the potential inflationary impact of trade tariffs as US President Donald Trump turns rhetoric into action. Although “the tariff topic has been somehow already priced in the market,” this doesn’t apply to all “negative outcomes,” Ermotti said in an interview with Bloomberg’s Francine Lacqua in Zurich. They spoke after UBS reported profit for the final quarter of 2024 that beat expectations, aiding the Swiss bank in boosting buyback plans for this year to $3 billion.
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