Banking giant UBS stock rose over 2% Wednesday, helping the region’s banking sector post gains, after announcing former boss Sergio Ermotti as its next chief executive officer, tasking him with steering through its takeover of struggling peer Credit Suisse.), had been the chief executive from 2011 to 2020, guiding the business during the fallout from the 2007/08 financial crisis. He will replace current Chief Executive Ralph Hamers from April 5.
Confidence is building that the turmoil surrounding the global banking sector may be coming to an end, with officials on both sides of the Atlantic keen to reassure the markets of the underlying strength of the industry. Fed Vice Chair for Supervision Michael Barr told a Senate Banking Committee hearing on Tuesday that the U.S. system is “sound and resilient.”
European Central Bank officials have also spoken at length about the strength of the European banking regulatory system, with Governing Council member Gediminas Simkus praising the “high capital buffers, high liquidity and growing profitability from rising interest rates,” earlier this week.
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Investing strategy: best stocks, bonds, currencies to buy now, UBSThe world's largest wealth manager is warning investors to avoid stocks for the rest of 2023. Here's its advice across asset classes. The higher interest rates go the less attractive higher risk investments like stocks will be 这家全球最大的财富管理公司警告投资者在2023年剩下的时间里不要投资股票。以下是它对不同资产类别的建议。
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