UBS Wealth Management Americas Hosts ElectionWatch 2016 Event with Former U.S. Senators & Senate Majority Leaders George Mitc...
July 12 2016 - 9:16AM
Business Wire
Event Coincides with Publication of CIO WMR’s
Industry-Leading ElectionWatch Report
Robert J. McCann, Chairman of UBS Americas, hosted an
exclusive client event at the Bushnell Center for the Performing
Arts in Hartford, Connecticut last night as part of UBS Wealth
Management Americas’ ElectionWatch 2016 series. The program is
designed to provide clients with unique insights into the 2016
presidential election process, potential outcomes, and the policy
and market implications. At the event, former U.S. Senators and
Senate Majority Leaders George Mitchell (D-ME) and Trent Lott
(R-MS) shared their outlook on the upcoming Democratic and
Republican conventions as well as their views on key concerns,
including national security and the U.S. economy.
Following the event, McCann commented, “The 2016 Presidential
election has, so far, been one of the most interesting and
controversial in our country’s history, and we are pleased to host
Senator Mitchell and Senator Lott, whose thoughtful conversation
delivered valuable insights on the upcoming conventions and the
U.S. political system.”
“The ElectionWatch series underscores UBS’s commitment to
providing our clients with meaningful and informed perspectives on
the issues that matter most to them,” added Tom Naratil,
President, UBS Americas and UBS WMA.
In conjunction with this event, WMA’s dedicated Chief Investment
Office Wealth Management Research unit (CIO WMR) published the
sixth volume of ElectionWatch 2016, a series of industry-leading
research reports examining the investment implications of campaign
issues and developments of this election season.
Highlights of the report include:
- Despite the preoccupation with the
selection of a vice-presidential running mate, the impact on
voting results tends to be quite limited. The choice matters only
because it positions someone for the role of president at some
point in the future and because it conveys an important message
about the values a president wants to project. (President Clinton
picked Al Gore to reinforce a message of generational change.
President Obama picked Joe Biden for the legislative skill he
offered).
- Hillary Clinton’s economic
proposals will be difficult to implement given the likely
opposition of House Republicans to any new tax revenues. If
Republicans sweep the White House and Congress, which we consider
unlikely, then there would be the potential for more substantial
changes to the Internal Revenue Code. But even here, intra-party
squabbling and concerns regarding the size of the deficit will
result in a limited impact at the macroeconomic level.
- The “never Trump” movement is
destined to fail in Cleveland, but we do expect Donald Trump to
depart from his usual rhetoric and stick to the teleprompter. All
in the hope of defusing opposition among GOP rank and file that are
skeptical of his position on free trade and doubt his ability to
win the election.
- National polls are largely
irrelevant. The Electoral College matters more than whether one
candidate is running up the vote total in states already on one
political column or the other. Watch the polls in states that will
choose the next president: Florida, Ohio, Virginia,
Pennsylvania.
The ElectionWatch 2016 event in Hartford is the first of four
events that will take place in key cities across the country
leading up to the general election. To view the ElectionWatch
About UBS Wealth Management Americas
Wealth Management Americas is one of the leading wealth managers
in the Americas in terms of financial advisor productivity and
invested assets. It provides advice-based solutions and banking
services through financial advisors who deliver a fully integrated
set of products and services specifically designed to address the
needs of ultra-high net worth and high net worth individuals and
families. It includes the domestic U.S. and Canadian business as
well as the international business booked in the U.S.
About UBS
UBS is committed to providing private, institutional and
corporate clients worldwide, as well as retail clients in
Switzerland, with superior financial advice and solutions while
generating attractive and sustainable returns for shareholders. Its
strategy centers on its Wealth Management and Wealth Management
Americas businesses and its leading universal bank in Switzerland,
complemented by its UBS Asset Management business and its
Investment Bank. These businesses share three key characteristics:
they benefit from a strong competitive position in their targeted
markets, are capital-efficient, and offer a superior structural
growth and profitability outlook. UBS's strategy builds on the
strengths of all of its businesses and focuses its efforts on areas
in which it excels, while seeking to capitalize on the compelling
growth prospects in the businesses and regions in which it
operates. Capital strength is the foundation of its success.
UBS is present in all major financial centers worldwide. It has
offices in more than 50 countries, with about 35% of its employees
working in the Americas, 36% in Switzerland, 17% in the rest of
Europe, the Middle East and Africa and 12% in Asia Pacific. UBS
Group AG employs about 60,000 people around the world. Its shares
are listed on the SIX Swiss Exchange and the New York Stock
Exchange (NYSE).
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UBSGregg Rosenberg, 212-713-8842gregg.rosenberg@ubs.com
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