News Formal

UBS wealth management saw 2 billion-dollar clients pull money in Q4 - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

UBS had 2 multi-billion-dollar clients pull their money out from its massive Americas wealth business, driving overall fourth-quarter outflows

wealth business in the Americas late last year, driving the lion's share of a global $4.7 billion in outflows from the bank's wealth management arm during the fourth quarter, according to a person familiar with the matter.

Those two Americas clients were "very low-margin accounts," Gardner said, suggesting they were not accounts that were immediately profitable to the business. He highlighted that full-year net new money of $31 billion was "particularly strong" into Asia-Pacific, a region where the wealth management unit hopes to expand.

UBS has long been a leader in managing money of the world's ultra-wealthy clients, and has more recently emerged as the firm's more stable business while its investment bank struggles.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 729. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Netflix Q4 2019: Wall Street split, optimistic on subscriber growth - Business InsiderNetflix posts earnings for its fourth quarter on Tuesday. Some Wall Street analysts are expecting a strong end to the streaming giant's rocky year. Can anyone give me advice on how to stop being so jealous when my gf talks to my friends like I get too jealous and she barely speaks to boys
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Netflix Q4 2019 earnings results: subscriber growth, revenue, analysis - Business InsiderNetflix reports on Thursday its fourth-quarter earnings, and analysts want to see how the company held up against Disney Plus.
Källa: BusinessInsider - 🏆 729. / 51 Läs mer »

Europe can lead the world in green finance, UBS chairman saysEurope has the chance to lead the world in developing capital markets for green finance, according to UBS Chairman Axel Weber.
Källa: CNBC - 🏆 12. / 72 Läs mer »