UBS CEO: Our Results Highlights The Advantages Of Defining Your Strategy Early

UBS Group AG (USA) 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).

UBS CFO, Tom Naratil, was on CNBC post the results to weigh in on the numbers and to discuss client’s confidence.

Advantages Of Defining Strategy Early

“Really good start for us to the year, solid start, strong quarter,” Naratil said. “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. Having a clear strategy and also executing with discipline across all of our business [lines].”

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 46 percent, well above our target of greater than 15 percent.”

He continued, “That showed through because they handle our clients business without extending their risk limits and their risks position. So, we are really pleased with disciplined execution and prudent use of resources.”

‘Don’t Annualize First-Quarter’

On how he feels 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 don’t annualize first-quarter, but it’s a very good start.”