Paul Donovan's audio commentary apology

14 June 2019

Regarding our CIO Chief Economist Paul Donovan's audio commentary on 12 June, and his comments about inflation and the rise of Chinese consumer prices:

UBS apologizes unreservedly for any pain caused by these comments, which we believe were innocently intended as an economic comment on inflation and Chinese consumer prices rising. Nevertheless, they should not have been made in this way. We have removed the audio commentary from circulation and Mr. Donovan has also apologized publicly.

UBS in China Our local offer

UBS is a global firm providing financial services to private, corporate and institutional clients. We are present in all major financial centers and have offices in over 50 countries.

In China, we offer wealth management, investment banking and asset management services.

Mobile services Always in touch

Mobile services

Our suite of services and apps that enable banking right on your mobile device

Careers Offering opportunities and personal growth

At UBS, we aim for excellence in all we do, and this begins with our employees. It is fundamental to our continued success that we hire highly talented individuals, support their ongoing development, and leverage their skills to meet our clients’ evolving needs.