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UBS CEO On The Advantages Of Defining Strategy Early, Not Annualizing Quarter Results

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UBS CEO On The Advantages Of Defining Strategy Early, Not Annualizing Quarter Results

UBS Group AG (USA) (NYSE: UBS) reported its quarterly results earlier on Tuesday. Profits for the company jumped year-over-year from 1.05 billion Swiss francs to 1.98 billion Swiss francs ($2.14 billion USD).

UBS CFO Tom Naratil was on CNBC after the results to weigh in on the numbers and to discuss client confidence.

Advantages Of Defining Strategy Early

"Really good start for us to the year," Naratil began, "Solid start. Strong quarter."

"We are pleased to see all of our businesses performing well in the quarter. I think this really highlights the advantages of defining your strategy early, of having a clear strategy and also executing with discipline across all of our business lines."

Related Link: UBS Q1 Net Profit Jumps

The Investment Banking Business

Naratil was asked if he is satisfied with the performance of the investment banking unit. He replied, "I think if you look at the results of the investment bank this quarter, very strong results, but more importantly, return on attributed equity [at] 46 percent, well above our target of greater than 15 percent."

He continued, "That showed through, because they handled our clients' business without extending their risk limits and their risks positions. So, we are really pleased with disciplined execution and prudent use of resources."

'Don't Annualize First Quarter'

On how he feels toward the momentum of the company going into the second quarter, Naratil said, "There's good momentum for us certainly coming out of the first quarter.

"I share my peers' views, which is [sic.] don't annualize first quarter – but it's a very good start," Naratil concluded.

 
Image Credit: "'Occupy Paradeplatz' Zürich 2011-10-22 14-44-56" by Roland zh - Own work. Licensed under CC BY-SA 3.0, via Wikimedia Commons

Posted-In: CNBC Swiss Franc Tom NaratilMedia

 

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