Huw Jenkins gives extensive interview to Bloomberg TV



http://compass.swissbank.com/compass...cd9/HJBbrg.jpg In a wide-ranging interview with Bloomberg TV this week, Huw Jenkins gave his private views on the international economic climate and UBS's potential areas of focus.

As special guest on the Open Exchange program, Jenkins was questioned about a number of issues including the overall prognosis for investment banks, the Investment Bank's growth egy and his reaction to the newly announced intention to unite regulatory powers between the NASD and NYSE.

Jenkins told interviewer Brian Sullivan he believed regulatory market consolidation was a positive step.

I think that anything that ends in more of a level playing field and consolidation and ease people dealing with a regulatory environment is a plus, he explained. We file reports if we're in a situation where we can consolidate those into providers, that is a plus for us. We are quite happy with the concept that exchanges are looking to become more effective, deliver more to their own customers and utilize these opportunities to look at these synergies of moving cross border.

Asked about his opinion on international equity markets, Jenkins stated he was a tiny bit surprised on from the strength of the rally coming from the summer.

The significant issue is whether we're going to be dealing with something greater than a soft landing concerning the US, he told Bloomberg. I think we're likely to have a really soft-landing. I think that the world's central banks are working to do a job on the 1 hand, the risks of slowing down the economy too quickly and two, what is obviously very substantial levels of risk-taking generally on financial markets.

Jenkins went on to predict a comparatively large degree of MA activity into the next year, but cautioned financial institutions would need to remain realistic about the capacity of liquidity levels to fall.

There is a significant chance for us along with the rest of the business to presume that these conditions can prevail indefinitely, he cautioned. But we need to continue to see the dynamics of the market to be sure we don't get over long.

Jenkins believed among those forthcoming focuses for UBS will be dealing more efficiently with clients needs, explaining there was a necessity to operate much more efficiently across the product area boundaries which have existed in investment banks.

Touching on crucial markets for UBS, Jenkins spoke about the firm's purchase of Brazil's Banco Pactual that would create a platform to expand throughout Latin America.

Upbeat about 2007, Jenkins explained the firm was on course to get a positive season and was confident of strong prognosis for the longer-term.

I think from our point of view the sector is in fantastic shape,'' he explained. When we looked at our business 18 months ago when I took over the 1 thing which we believed quite strongly was the principal trends which are driving our industry - securitization and globalization - are likely to continue to play out in the second half of the decade.