Obama’s Golf Buddy: ‘Businesses Doing Extremely Well’

Robert Wolf
Robert Wolf

The banker who got into hot water apparently for his public embrace of President Barack Obama is no longer chief of UBS in the Americas.

A day after he left the Swiss bank, Robert Wolf appeared Thursday on CNBC's "Squawk Box," defending his golf buddy's attempt to win re-election to the White House.

There are many bright spots in the economy, he told CNBC, adding that for every Obama foe like Donald Trump, there's a supporter like Warren Buffett.

Wolf, 50, is an unabashed backer of the president and is among the top money bundlers for Obama.

In June, The New York Times reported that he had raised more than $500,000 for the re-election campaign.

The Times story reported that weeks after several media profiles, including one in The Wall Street Journal that called him "A 'Fat Cat' with the President's Ear," Wolf received an email dressing-down which restated UBS' policy on media relations.

Now, after 18 years at UBS , Wolf has started a consulting group called 32 Advisors.

During his appearance on CNBC, Wolf emphasized bright spots in the economy.

"There are businesses doing extremely well," he insisted. "Manufacturing we should be clear is doing the best they have done since the '90s. Our exports ... as a percent of the GDP, the best it's done in decades. So there's a lot of positive things going on."

Asked how he conveys negative Wall Street sentiment to Obama, Wolf replied:

"For every person you mentioned that doesn't like his rhetoric I can give you a person that likes the direction this country is going, which is why we are at about 50/50," he said, referring to recent polls about Obama and GOP challenger Mitt Romney.

"You can mention Donald Trump and I'll mention Warren Buffett. You can mention Jack Welch and I'll mention Jim Sinegal. You can mention someone and I’ll mention Bill Gates," said Wolf. "This is where we are as a country, it’s very polarizing. To say there is no business support for the president just isn’t accurate."