$UBS

UBS reported a 34% decline in dealmaking fees for Q3, attributing the drop to the timing of M&A transactions. The bank has been investing in its dealmaking team, but market conditions affected fee income.

UBS reported steady profits and accelerated its share buyback program, aiming to complete a $3 billion buyback by February. The bank's future buyback plans depend on Switzerland's banking rule overhaul, expected to reach the lower house in December. According to UBS, the completion of the buyback program makes December's capital debate a key market catalyst.

UBS is set to report Q3 2026 earnings on October 28. Analysts expect EPS of $0.96 and revenue of $13.16B, up 3.1% year-over-year. EPS estimates have not changed in the last three months.

UBS CEO Sergio Ermotti stated that the bank's integration of Credit Suisse has slowed its AI deployment, but now allows for greater emphasis on technology. He also mentioned that UBS does not permit outside AI agents to act on behalf of clients. The comments were made during an event at ETH university in Zurich.

China approved Citigroup's application to operate a fully-owned securities firm in Shanghai, with $180M in capital. This follows Beijing's 2020 decision to scrap ownership caps, allowing foreign firms like JPMorgan and Goldman Sachs to operate independently. The move signals China's commitment to opening its financial sector and elevating standards.

Major brokerage firms like UBS, Ameriprise, Morgan Stanley, and Merrill Lynch are implementing retention bonuses and deferred compensation to prevent advisors from leaving for independent RIAs. Advisor attrition at the Big Four wirehouses increased significantly in 2026, with a net loss of 517 advisors in the first half of the year. Ameriprise and UBS are introducing retention bonuses, while Morgan Stanley and Merrill Lynch are sticking to traditional pay structures.

UBS expects net profit to rise 9.1% to $2.71B, pre-tax profit up 24% to $3.52B, and revenue up 6% to $12.93B. Management cites Middle East conflict and volatile energy prices as risks. UBS opposes proposed 90% equity capital requirement for foreign subsidiaries, sparking relocation/merger speculation. Share price fell 14% from September high due to political uncertainty.

UBS CEO Ermotti and Swiss Finance Minister Karin Keller-Sutter addressed the National Council's Committee on Economic Affairs and Taxation regarding the Banking Act. The act proposes increasing capital requirements for foreign subsidiaries of major Swiss banks, primarily affecting UBS. The committee will decide on proposals in the coming weeks. The finance minister proposed a 100% coverage ratio in hard capital, while UBS aimed for 50%, and the Council of States voted for 90%.

Swiss lawmakers debate requiring UBS Group AG foreign units to hold 90% CET1, which UBS argues may impact its Swiss operations. UBS reports Q3 2026 results on Oct 28, with consensus revenue at $12.962B and EPS at $0.91. According to Reuters.

UBS may consider moving its Swiss HQ or restructuring due to proposed capital rules, which could add $18B in extra shares, according to reports. The bank fears these rules may threaten its competitive edge, particularly for its international operations. UBS reports Q3 results on Wednesday, with analysts watching for clues on its response to the potential regulations.