UBS CFO: No systemic pressure seen in the private credit sector at the moment.

UBS Group CFO Todd Tuckner said at the Morgan Stanley European Financials Conference that systemic pressure has not yet been seen in the private credit sector. Tuckner stated that UBS is confident in its risk exposure levels in the private credit sector and that UBS clients remain active but cautious during market volatility. He also mentioned that artificial intelligence will have a disruptive impact on the wealth management industry, improving the efficiency of advisors. UBS has been focusing on cost control in the United States and maintaining strict discipline. Tuckner added that UBS is looking to recruit more advisors in key regions in Asia-Pacific.