UBS has announced its new global and U.S. advertising campaign: "We will not rest." That's right, UBS employees will not rest "until you are satisfied, truly satisfied." The campaign, as shown on its website, has a photo of Sir Edmund Hillary and his sherpa, the guys who first to make it all the way up Mt. Everest. And, things may in fact be getting better; client net outflows in the second quarter were down only CHF 5 billion (Swiss francs).
"The campaign," says a UBS press release, "features four American icons, each of whom has achieved greatness with the support of their teams: Neil Armstrong, Muhammad Ali, Amelia Earhart and Thomas Edison.
The US brand campaign debuts on October 12 in the Wall Street Journal and the Financial Times. In the coming months, ads will appear in additional business publications, TV and digital advertising."
UBS Global Wealth Management, which had been losing advisors, is now under the helm of Bob McCann for about a year now, who once ran Merrill Lynch's brokerage. (Look for third-quarter earnings on 26 Oct.) Here are UBS Global Wealth Management positive points, as noted in its second-quarter presentation to shareholders:
"Positive NNM [net new money] from UHNW [ulltra-high-net-worth] clients for second consecutive quarter;
"Outflows related to client advisor attrition had a diminishing impact;
"Most of the net outflows continued to be in the cross-border segment
"Continued focus on attracting profitable NNM" [read: UHNW money].