UBS Group AG (0R3T) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, good morning. Welcome to the UBS second quarter 2025 results. The conference must not be recorded for publication or broadcast. You can register for questions at any time by pressing star and one on your telephone. Should you need operator assistance, please press star and zero. At this time, it's my pleasure to hand over to Sarah McKee, UBS Investor Relations. Please go ahead, madam. Good morning and welcome, everyone. Before we start, I would like to draw your attention to our cautionary statement slide at the back of today's results presentation. Please also refer to the risk factors included in our annual report, together with additional disclosures in our SEC filings. On slide two, you can see our agenda for today. It's now my pleasure to hand over to Sergio Amotti, Group CEO. Thank you, Sara, and good morning, everyone. We sustained robust momentum during a quarter that started with extreme volatility by staying close to our clients and successfully executing the first wave of our Swiss client account migrations, a critical phase of our integration. This drove strong quarterly results, which contributed to a first half underlying return on CT1 capital of 13.3%. These results highlight the power of our differentiated business model and our diversified global footprint, one of which are reinforced by our balance sheet for all seasons and our disciplined efforts to steadily improve risk-adjusted returns since the Credit Suisse acquisition. Our clients continue to value the breadth of our advice and global capabilities. Our invested assets reached $6.6 trillion, and private and institutional and client activity was robust across all our regions. Global wealth management continues to attract flows into our discretionary solutions, and we are en...