UBS Traders Aid Profit Beat as Ermotti Warns on Tariffs (2)

UBS Group AG’s markets unit posted a record performance as geopolitical turmoil spurs volatility that the bank says is set to continue.

Net income for the three months to March came in at $1.7 billion, beating estimates, aided by a 32% revenue surge from trading that was driven by equities and foreign exchange.

The uncertainty brought about by the Trump administration has prompted investors to shift their portfolios, handing the trading desks of global banks a surge in business. UBS however warned that spiking concerns over trade policy could cause businesses to put off investment and would hurt fees ...