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UBS wealth management inflows of $27bn stimulate $1.1bn quarterly net profits
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investmentweek.co.ukA combination of $27bn net inflows into UBS's global wealth management division and strong transactional activity in investment banking helped to stimulate better than expected profits of $1.1bn in the most recent quarter, according to its quarterly results published today (14 August). Driven largely by the consolidation of Credit Suisse revenues for the full quarter, the high-profile acquisition that completed last year, total revenues for the global wealth management division jumped by 15% to just shy of $6.1bn, with its pre-tax profits reaching just below $871m. UBS revamps wealth ...
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