The first quarter is one of the worst in recent years despite the recovery of global equities, says Ermotti of UBS



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Sergio Ermotti, chairman and CEO of UBS Group AG, speaks at a press conference, as the world's largest wealth manager announces its annual results in Zurich, Switzerland on Monday January 22, 2018.

Stefan Wermuth | Bloomberg | Getty Images

Sergio Ermotti, chairman and CEO of UBS Group AG, speaks at a press conference, as the world's largest wealth manager announces its annual results in Zurich, Switzerland on Monday January 22, 2018.

Despite the upturn in global equity markets, first-quarter revenues in 2019 have been among the worst in recent years, the CEO of Swiss bank UBS told CNBC.

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