What a privilege to spend the past three days with my collegues at the annual Private Wealth Conference.
Some of my favorite quotes and insights from the meeting…
“Growth comes from better recipes, not more cooking” - Luke Williams, Author of Disrupt
“If you only change when you are proven wrong, you’re too late” - Luke Williams
“Within finance, you don’t get big by being bad. You have to be good” - Stephen A. Schwarzman, Chairman, CEO & Co-
Founder of Blackstone
“UBS will be one of the winners in the future of the wealth management business. If you are a very wealthy individual, you will have 3 or 4 firms. With its global reach, UBS will be one of them…the other spots are up for grabs” - Michael Gitlin, Capital Group CEO
“Cash is a decaying asset. You have 18-24 months before money market funds are yielding 3%, so now is the window to extend duration.” - Michael Gitlin
“The Credit Suisse acquisition will add 40% more to our Wealth Management bottom line, enabling us to reinvest in our strategic focus - the U.S.” - Iqbal Khan, UBS President of Global Wealth Mangement
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