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    Zach Westerlind

    Senior Equity Analyst at UBS

    Zach Westerlind is a Senior Equity Analyst at UBS, specializing in coverage of Southeast Asian blue-chip companies such as AEM Holdings, CapitaLand Investment, ComfortDelGro Corporation, and First Resources. Known for his rigorous fundamental analysis and actionable recommendations, he has consistently delivered accurate earnings forecasts and investment calls—recently maintaining SELL ratings for AEM Holdings following missed earnings and BUY ratings for CapitaLand Investment and ComfortDelGro Corporation based on strategic and earnings growth. Westerlind began his analyst career in the mid-2010s and joined UBS where he has built a reputation for detailed industry insights and a methodical approach to equity research. He holds FINRA securities licenses and is registered to provide investment advice within major global markets.

    Zach Westerlind's questions to M&T BANK (MTB) leadership

    Zach Westerlind's questions to M&T BANK (MTB) leadership • Q3 2024

    Question

    On behalf of Erika Najarian, Zach Westerlind asked if the projected Q4 expense increase is temporary or part of a new run rate, and inquired about the bank's through-the-cycle charge-off expectations.

    Answer

    CFO Daryl Bible explained the Q4 expense increase is a mix of both run-rate items, like new data centers coming online, and temporary project expenses. He reiterated that M&T's historical through-the-cycle charge-off rate is 34 basis points but noted this could trend higher as the loan portfolio mix shifts towards more consumer loans as part of a broader diversification strategy.

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