UBS investment bank head wary on 2018 outlook

ZURICH (Reuters) – The head of Swiss bank UBS’s investment banking business gave a cautious outlook for market conditions next year, with fees set to fall again and volatility staying low.

“Markets have moved into an environment of very low volatility, which is very difficult for us to manage,” Andrea Orcel said in an interview aired by Bloomberg Television.

He noted the investment banking fee pool would fall between 3 and 10 percent year on year in 2017. “Next year we don’t anticipate this to be a recovery. It will continue to come off, so this is an environment that is quite challenging for us,” he said.

“We continue to budget for an environment which is very much like 2017, low volatility, not very positive markets for us.”

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.