UBS CEO says clients on sidelines amid market volatility By Reuters

UBS CEO says clients on sidelines amid market volatility

Stock Markets May 23, 2022 07:36AM ET

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UBS CEO says clients on sidelines amid market volatility

© Reuters. FILE PHOTO: A street sign marks Wall Street outside the New York Stock Exchange (NYSE) in New York City, where markets roiled after Russia continues to attack Ukraine, in New York, U.S., February 24, 2022. REUTERS/Caitlin Ochs

ZURICH (Reuters) - Clients are tending to keep to the sidelines amid market volatility, UBS Chief Executive Ralph Hamers told broadcaster CNBC in an interview on Monday.

"You see that clients are not necessarily disengaging from the market, they are still engaged but they are not adding to it, so more or less on the sidelines as to waiting for things to clear up, whether there is going to be a direction that we can follow," he said.

He also said the world's largest wealth manager would roll out a new digital product called Circle One in Singapore on Tuesday and could take it to other markets should it go well.

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