UBS says investing for sustainable long-term growth

The company said, “We remain focused on strengthening our global capabilities by investing in our businesses and technology to capture long-term growth opportunities. In October, we submitted the national bank charter application in the US, an important step in our strategic growth plans in the world’s largest wealth market, allowing us to over time build a platform delivering a broader suite of banking products to clients, including traditional bank accounts, in addition to the cash management capabilities UBS (UBS) currently offers. We aim to receive an approval in 2026. We are accelerating our AI strategy to deliver impactful outcomes faster and incrementally, with continued progress in reshaping our business capabilities and enhancing employee productivity. In the third quarter, we have further rolled out AI-powered tools, with all employees now having access to M365 Copilot and our in-house AI assistant, Red, being available to over 85,000 employees. Our investments in this space continue to translate into increased usage of Gen AI tools across the organization with 18m prompts across all our tools in the quarter, a nine-fold increase since year-end 2024. In addition, we are continually assessing and building further opportunities – having added 60 new AI use cases across the bank, bringing the number of live solutions to 340. We are also progressing on the execution of our eight large-scale, transformational AI initiatives designed to have firm-wide impact and strengthen our foundations, enhancing client service and increasing productivity across the Group. This includes the continued implementation of the next generation of software engineering, with 3,000 developers now using AI-powered code tooling – enabling us to deliver solutions in a way that is faster, more innovative, and scalable. 250 of our senior leaders, including members of the Group Executive Board, are taking part in the AI Senior Leadership Journey events at the Said Business School, University of Oxford. The program focuses on building an AI-enabled organization, driving transformation, and ensuring ethical governance. This initiative is designed to equip our leaders with the strategic insights they need to further embed AI across the firm and lead the development of an AI-enabled workforce. Most recently, we have also appointed a Chief AI Officer to lead UBS’s AI strategy, ensuring the effective deployment of AI-enabled tools and processes at scale, while driving the next phase of implementation and governance. We are doing all this while continuing to contribute to the ongoing political process on banking regulation in Switzerland. We submitted our response to the Capital Adequacy Ordinance consultation in September, and will do the same for the ongoing consultation on capital requirements related to foreign subsidiaries by its end on 9 January 2026.”