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August 02, 2011 at 08:16 AM
UBS Wealth Management Americas hosted a client event on Monday in Dallas with former Presidents Bill Clinton and George W. Bush as part of its Revitalizing America Initiative, which aims to find non-partisan ways to improve the U.S. economy. Late last week, UBS and William J. Clinton Foundation announced the launch of a New York-based pilot project that is also part of this initiative and involves both financial advisors and their clients.
“Investors across the country have shared their concerns, and it is clear that their greatest worries revolve around the future of America as a continued economic force,” said Robert McCann, head of UBS in the Americas at the Dallas event, which had about 400 attendees. “Questions regarding the budget deficit, global competitiveness, the American workforce and the strength of the dollar inspired us to initiate an ongoing conversation with our clients about what it will take to revitalize America.”
As part of its Revitalizing America Initiative, UBS recently conducted a poll of more than 1,000 clients and prospects. It found that 67% of Texas respondents are “extremely worried about the size of the national debt,” and a near majority is also quite concerned about U.S. competiveness, according to UBS.
At the event, McCann described the debt dialogue in Washington as having thrown a “wet blanket” on CEOs trying to determine whether or not to expand, according to a story in Monday’s Fort Worth Star-Telegram.
“There’s actually a lot going in this economy to feel good about,” he said. “Corporate profits are quite strong. Corporate balance sheets are in better shape than they’ve been in years. There’s the beginnings of some job creation.”
UBS a
nd Clinton first announced the formation of the CEO-UBS Small Business Advisory Program during the Clinton Global Initiative-America conference in June. It involves both UBS financial advisors and their clients.
“As small businesses across America strive to expand and grow jobs, I am proud of the fact that UBS advisors and our clients have volunteered to work with the entrepreneurs enrolled in this pilot program,” said McCann in a press release.
