Peng Xiao
👤 SpeakerAppearances Over Time
Podcast Appearances
created 25 millions of new millionaires.
So basically 1,000 millionaires a day.
So it's a place for a financial institution.
A wealth manager like UBS is a place to be.
Let's talk about that.
Is that something you want to do organically or through an acquisition?
I think that we have enough to do organically by doing better what we can do.
We are enhancing our product capabilities.
We just got a national charter application being approved by the OCC.
We are expanding our interaction between the investment bank and our wealth management people.
So I think that's...
more things we can do to get better and stronger.
Not quickly.
I think it's a political process.
Most likely we're going to find out the direction of travel in the middle of the second quarter.
And then it's still a political process.
But you're right.
This is something that has been quite distracting for us.
Although we have been quite successful in managing the integration of Credit Suisse.
It's almost completed.