UBS reported strong earnings for the fourth quarter, boosted by strong growth in its Wealth Management division and Wealth Management Americas division, which posted a record quarterly profit.
The wealth management divisions delivered their best pre-tax profit since the financial crisis, CEO
UBS Wealth Management Americas contributed a fourth quarter profit of
The division’s operating expenses grew in the fourth quarter by
“There are a lot of key indicators that have moved in the right direction,” says
Revenue per financial advisor at UBS Wealth Management Ameicas also reached a record of
While the number of advisors in the
The firm’s total operating expenses dropped to
<p> 'PUNCHED ABOVE ITS WEIGHT'
According to UBS, its wealth management division, which does not include
The company’s investment bank also reported strong growth, posting a profit of
“UBS has punched above its weight. They’ve put up phenomenal numbers in recent times,” Pirker says.
UBS says its board of directors will propose a 67% increase in UBS’ dividend, causing it to potentially rise to
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