Robert J. McCann, Chief Executive Officer of UBS Wealth Management Americas (WMA), hosted an exclusive client event in Dallas, as part of WMA’s ongoing Revitalizing America Initiative, which aims to forge common ground and discuss nonpartisan ways to revitalize the U.S. economy. Featuring a conversation on the nation’s economic recovery, between Presidents William J. Clinton and George W. Bush, the event addressed future drivers of US competitiveness by focusing on issues including the economy, job creation, fiscal reform, immigration and education. Underscoring the importance of education to the Revitalizing America initiative, McCann was also joined by the Chancellor of Texas Christian University, Dr. Victor Boschini Jr., and by the Provost of Southern Methodist University, Dr. Paul Ludden who discussed the future of American education and the role their universities are playing in helping to bolster the competitiveness of the U.S. workforce. Commenting on the event, McCann said, “Investors across the country have shared their concerns and it is clear that their greatest worries revolve around the future of America as a continued economic force. Questions regarding the budget deficit, global competitiveness, the American workforce and the strength of the dollar inspired us to initiate an ongoing conversation with our clients about what it will take to revitalize America. I am honored that President Bush and President Clinton agreed to share their unparalleled insights into these important issues with our Texas audience.” As part of its commitment to inform, and participate actively in the public debate on revitalizing the national economy, WMA used the occasion of its Dallas event to publish two pieces of proprietary UBS research: a client/investor sentiment survey; and a competitiveness study. Authored by WMA’s Chief Investment Strategist, Mike Ryan, WMA’s report on US Competitiveness: America’s Still Got Talent, addresses the current state of U.S. competitiveness and offers practical policy and business solutions to bolster the nation’s economic competiveness moving forward. Highlights of the report include a detailed discussion of the factors that could support the return of high-end manufacturing to the U.S. and an assessment of the importance of innovation, brands and talent for U.S. corporate leadership. The WMA client/investor sentiment survey was informed by a national poll of over 1,000 UBS clients and prospective clients – and a regional update which gleaned the distinct views of respondents in the state of Texas about major issues of importance them.
The poll traces a noticeable shift in investor concerns from individual portfolios to the health of the larger U.S. economy. Significantly, it also highlights that Texas investors have become even more pessimistic about the state of the economy than the nation at large. Specifically, 67% of Texas respondents reported feeling extremely worried about the size of the national debt, which ranked as their biggest concern. Additionally, a near majority of respondents across the Lone Star state reported feeling extremely concerned about U.S. competiveness, further underscoring the widespread desire among investors to have the significant structural issues facing the nation’s economy addressed.About UBS Wealth Management Americas UBS Wealth Management Americas provides advice-based relationships through financial advisors who deliver a fully integrated set of products and services specifically designed to address the needs of ultra high net worth, high net worth and core affluent individuals and families. It includes the Wealth Management US business, the domestic Canadian business and the international business booked in the United States. About UBS Wealth Management Americas Revitalizing America Initiative Launched in response to investors’ deep concerns about America’s long-term economic growth, UBS Wealth Management Americas Revitalizing America Initiative comprises a series of speaking engagements and programs that UBS will host over the course of the year, aimed at forging common ground and discussing how, together, we can revitalize the U.S. economy. In support of the initiative, UBS WMA has published “Revitalizing America: Forging a New Path toward Economic Prosperity,” a report on the challenges facing the nation’s economy. Additional information available at: http://financialservicesinc.ubs.com/revitalizingamerica/. About UBS UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. The firm combines its wealth management, investment banking and asset management businesses with its Swiss operations to deliver superior financial solutions.