UBS taps US investment giants to raise valuation

In an effort to raise its market value and better connect with Wall Street competitors, UBS has started recruiting major US investment companies to become top shareholders.

In recent months, according to persons with knowledge of the conversations, new chair Colm Kelleher and CEO Ralph Hamers have met with a number of significant US fund managers in an effort to persuade them to expand their interests in the bank.

The UBS board has grown upset that the company, which is the largest wealth manager in the world, trades at a discount to Wall Street banks, which they believe is because European and Swiss lenders are not well-liked.

To persuade US financial behemoths like Capital Group, T Rowe Price, Wellington, and Fidelity to increase their interests in the company, Kelleher and Hamers have launched a roadshow. Regarding the meetings, UBS declined to comment.

One of the most valued banks in Europe is UBS, which has a price-to-book ratio of 1 as opposed to 0.3 for Credit Suisse, Société Générale, and Deutsche Bank, 0.4 for Barclays, and 0.6 for HSBC.