The composition and structure of UBS’s businesses is defined
by the long-term needs of its clients. The optimal
basis
for building a high quality, sustainable earnings stream
is a business mix that reflects these long-term needs. Because
UBS takes this approach, the firm can grow without
needing to change its strategic positioning or competitive
profile. In order
to fulfill the long-term needs of its clients,
UBS:
makes efficiency improvement a permanent task and a
source of innovation, allowing investment spending to be
directed to areas that will make the greatest difference
for clients and investors;
expands market share in existing businesses by attracting
new clients in fast growth segments (for example, high
net worth private clients) and increasing business volume
through improved client segmentation and targeted solutions
customized to client needs; and
expands geographically, with a focus on regions with rapid
economic and wealth growth, such as China, Brazil,
Russia, India and the Middle East.
As UBS has significant scale in its areas of focus, with
strong positions in large, mature markets as well as a growing
presence in emerging markets, its main priority is to develop
and grow organically. Acquisitions should accelerate
and complement growth, and they must have an obvious
strategic and cultural fit, while being financially attractive to
shareholders.