UBS Chief Executive Officer Sergio Ermotti bought $13.1 million of shares in Switzerland’s largest bank shortly after its investor day.
A spokeswoman for the bank confirmed the purchase after Switzerland’s SIX Exchange reported Monday that an executive had bought 1 million shares on Oct. 26, the day after the event in London.
Deepinder Gulati is chief product & AI officer at Nayya, where he leads product, engineering and AI for a benefits intelligence platform serving over 4 million employees. He has spent two decades in product and AI leadership across financial services and health tech, including senior roles at American Express, Bankrate, Zocdoc, and Beam Benefits.
Financial planners who joined the Transparent Advisor Movement's first "Flat Fridays" meetup touched on the difficulty of explaining the industry to consumers.
Management purchases are generally seen as a sign of confidence in a company and the news may buoy UBS after its shares dropped by about a quarter this year, in line with a wider banking-sector decline.
Ermotti last week rejiggered UBS’s key financial targets for the second time this year and outlined how the bank is seeking to win over American billionaires by boosting recruitment in the U.S. and expanding a push into Asia.
