UBS’s Ros L’Esperance to Depart in March; Gold Bull Run May End
UBS executive vice chair Ros L’Esperance will depart at the end of March after nine years, stepping down from strategic advisory following Marco Valla’s 2023 takeover of global banking. UBS strategists warn gold’s bull run could end if the Federal Reserve holds rates through year-end, which markets have priced in.
1. Executive Departure
Ros L’Esperance, who joined UBS in 2014 and served as executive vice chair of the Investment Bank, will leave at month-end to pursue opportunities outside the firm. Her tenure included co-heading global banking and later focusing on strategy and leadership development for senior client-facing bankers.
2. Leadership Transition
Marco Valla, UBS’s co-president of the Investment Bank and head of global banking, assumed full responsibility for the global banking division in 2023. Following that shift, L’Esperance concentrated on strategic initiatives and the creation of a new advisory group for top relationship managers.
3. Gold Market Outlook
A UBS strategist cautions that gold’s prolonged rally could reverse if the Federal Reserve maintains current interest rates through year-end. This scenario, already priced into markets, could prompt investors to reassess precious metals exposure.