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Ralph Hamers

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UBS CEO says crypto is an untested asset class and he isn’t worried about missing out on clients

Ralph Hamers, CEO of UBS, gestures during in Zurich, Switzerland, Thursday, Feb. 20, 2020. Walter Bieri/Keystone via AP Ralph Hamers, the CEO of Swiss Bank UBS Group, said when it comes to cryptocurrencies, he advises his clients with caution. "We feel that crypto itself is still an untested asset category," the chief executive told Bloomberg on Tuesday. "We don't offer it actively."In May, UBS was reportedly in talks to offer cryptocurrency investments to its wealthy clients, joining many firms in responding to increasing client demand for digital assets.But any offering, sources told Bloomberg, would only be in small portions of their total investment to protect them from cryptocurrencies' famous price swings. "Clients are looking at different alternatives and they hear ...