15 days ago • Posted by William Ramstein

UBS bags net income of $2B from wealth management side

UBS rose as much as 4.8% in Zurich trading, and was 4.5% higher as of 10:04 a.m. local time. The wealth management business saw $25 billion of inflows of net new fee-generating assets across all regions and also made $7 billion in net new loans to rich clients in the quarter as it seeks to deepen relationships with wealthy families. The bank said it’s focusing on growth in the largest and fastest growing markets of the U.S. and Asia Pacific region, while warning activity is set to moderate. Source: Yahoo