«No. We haven’t seen that yet,» UBS boss Sergio Ermotti said in an interview with «Bloomberg,» responding to a question on whether any capital outflow in Hong Kong from any client had been observed. «We saw clients thinking about contingency planning. But to be honest, so far we haven’t seen any outflows or any major movements.»

Although the UBS boss acknowledged it is becoming tougher to grow in China and broader Asia, he said he remains confident in the region's «wealth creation story». The Swiss banker highlighted that while growth in UBS' client assets has grown more slowly, the absolute size and quality should be its major focus given the scale achieved by Asia's largest wealth manager. 

Hong Kong Human Rights and Democracy Act

was reluctant to provide any position on the potential signing of the Hong Kong Human Rights and Democracy Act by President Donald Trump, which recently passed the Senate, but noted that any escalation would not be constructive for other discussions.

«Well, we’ll see what the final decision of the president will be,» he said. «At the end of the day, it’s between the politicians to sort out how they want to address those issues.»