President Donald Trump earned "high marks" from Swiss bank UBS for his economic achievements, CNBC reported.

"I think prior to his election, the prospects of tax reform, of regulatory relief, or any sort of sensible approach to infrastructure were off the table," said Mike Ryan, UBS Wealth Management Chief Investment Strategist and Regional Chief Investment Officer, in an interview.

He added that Trump defied expectations and got the GOP tax bill through Congress, and that the president deserves "high marks" for his work. Ryan said that the U.S. tax code previously was "very inefficient," and that although the changes are "not everything that we hoped for," the new business environment in the U.S. has emboldened investors.

However, UBS Wealth Management Head of Investment Mark Haefele told CNBC that the Trump administration is still being monitored as a major risk, pointing out that protectionist policies and conflict with North Korea would upset growth and cause the financial environment to suffer.

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