UBS Group AG (0R3T) Q4 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.757 Ladies and gentlemen, good morning. Welcome to the UBS fourth quarter 2025 00:00:05.757 -- 00:00:07.760 results presentation. 00:00:07.760 -- 00:00:11.283 The conference must not be recorded for publication or broadcast. 00:00:11.283 -- 00:00:16.149 You can register for questions at any time by pressing star and one on your telephone. 00:00:16.149 -- 00:00:19.913 Should you need operator assistance, please press star and zero. 00:00:19.913 -- 00:00:24.738 At this time, it's my pleasure to hand over to Sarah Mackey, UBS Investor Relations. 00:00:24.738 -- 00:00:27.399 Please go ahead, madam. 00:00:27.741 -- 00:00:31.628 Good morning and welcome, everyone. Before we start, I would like to draw your attention 00:00:31.628 -- 00:00:36.015 to our cautionary statement slide at the back of today's results presentation. 00:00:36.015 -- 00:00:40.181 Please also refer to the risk factors included in our annual report together with additional 00:00:40.181 -- 00:00:43.787 disclosures in our SEC filings. 00:00:43.787 -- 00:00:47.092 Throughout our remarks, we will refer to underlying results in U.S. 00:00:47.092 -- 00:00:52.417 dollars and make year-over-year comparisons unless stated otherwise. 00:00:52.600 -- 00:00:56.748 On slide two, you can see our agenda for today. 00:00:56.748 -- 00:01:00.332 Todd will first cover fourth quarter and four-year results. 00:01:00.332 -- 00:01:04.216 Then Sergio and Todd will take you through our investor update before moving to Q&A. 00:01:04.216 -- 00:01:10.840 So now my pleasure to hand over to Todd Tuckner, Group CFO. 00:01:11.303 -- 00:01:14.506 Thank you, Sarah, and good morning, everyone. 00:01:14.506 -- 00:01:20.432 Discipline execution in the fourth quarter underpinned a strong year of financial perf...