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UBS' Benjamin Cavalli highlights a growing trend among ultra-high net worth individuals and their family offices to diversify their financial hubs, with increasing interest in the Middle East, particularly in Dubai, Abu Dhabi, and Saudi Arabia. Factors influencing their choices include strong rule of law, healthcare, education, and favorable tax environments. As geopolitical risks and investment opportunities evolve, the competition among regional centers intensifies.
UBS is set to enhance its wealth management division by appointing Benjamin Cavalli, a former Credit Suisse executive, to lead a new unit called “Strategic Clients and Global Connectivity” starting July 1, 2025. This initiative aims to improve global connectivity and collaboration for clients, while the UHNW Solutions Group will transition to GWM Solutions, with key teams joining Cavalli's unit to strengthen ultra-high-net-worth offerings.
UBS is restructuring its Global Wealth Management division, creating a new unit called "Strategic Clients and Global Connectivity," led by Benjamin Cavalli starting July 1, 2025. This move aims to enhance global connectivity for clients and improve regional collaboration, while the UHNW Solutions Group will transition to GWM Solutions, with some teams joining Cavalli's unit.
UBS is restructuring its Global Wealth Management division, creating a new unit led by Benjamin Cavalli, who will enhance global connectivity for clients starting July 1. The UHNW Solutions Group will shift to GWM Solutions, while certain teams will remain under Cavalli's leadership to bolster ultra-high-net-worth services and regional collaboration.
Entrepreneurs express strong optimism for industry growth, with 61% anticipating increased investments and workforce expansion over the next year. Key concerns include regulatory changes and cybersecurity threats, while AI is seen as a major opportunity for enhancing productivity. The report highlights significant regional differences in investment expectations, particularly in the Americas and Europe.
The UBS Entrepreneur Report reveals that while 61% of entrepreneurs are optimistic about the next year, they face significant challenges, including hiring difficulties (52%) and concerns over political instability (53%). Long-term, many seek improved work-life balance and diversification of investments. The surveyed businesses generate nearly $20 billion in annual revenue, averaging $123 million each.
A recent UBS report reveals that entrepreneurs are optimistic about their industries, with 61% expecting growth over the next year. Key investment areas include personnel, strategic acquisitions, and AI infrastructure, with 54% anticipating increased hiring. Concerns about political instability and regulatory changes dominate their outlook, while many aspire to balance personal interests with business ambitions.
Swiss companies exhibit a more pessimistic outlook compared to global counterparts, with only 50% expressing optimism for the next year, and just 36% planning to increase investments. However, over 40% anticipate workforce growth, and nearly two-thirds see significant potential in artificial intelligence to boost productivity across sectors.
UBS's inaugural Global Entrepreneur Report reveals that 62% of entrepreneurs see AI as the top commercial opportunity, with 47% planning to boost IT spending. Optimism varies by region, with 71% of entrepreneurs in the Americas confident for the coming year, while political instability remains a major concern for 53% of respondents. The report highlights a strong focus on digital transformation and workforce investment amid economic uncertainties.
The UBS Billionaire Ambitions Report 2024 reveals that billionaire wealth surged by 121% from 2015 to 2024, reaching $14 trillion, while the number of billionaires stabilized at around 2,682. North American billionaires saw significant growth, with their wealth increasing to $6.1 trillion, driven by advancements in industry and technology. In contrast, Chinese billionaire wealth has declined from a peak of $2.1 trillion to $1.8 trillion, reflecting a broader stagnation in global wealth creation since 2020.
Benjamin Cavalli
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