Two top executives from major lenders have clashed over the risks in private credit. Colm Kelleher, UBS chairman, says poor insurance regulations and unfair credit ratings create dangers, especially in the US. Apollo Global Management CEO Marc Rowan disagrees, saying Kelleher’s view is incorrect.
Recently, there has been a heated debate between banks and private lenders about loan standards, risk management, and who was responsible for financing failed companies like Tricolor and First Brands.
Source: https://www.bloomberg.com/opinion/articles/2025-11-06/ubs-boss-scores-one-for-banks-over-private-credit