Home Financial Center Switzerland UBS to Charge Private Clients for Euro Deposits

UBS to Charge Private Clients for Euro Deposits

11
0
News in Brief - Caproasia Online

Join more than 4,000 leading financial professionals in Asia to receive Caproasia exclusive newsletter here.

For financial professionals managing assets or advising client , sign up here. Gain advantage today as a Caproasia user. For existing Caproasia user, contact your regional representative.


UBS to Charge Private Clients for Euro Deposits

UBS will start charging private clients for their euro deposits. Clients will now have to pay 0.6% on euro-denominated accounts of more than 1 million euros starting from 1st May.  Previously charges were levied at institutional investors only.

“Clients will now have to pay 0.6% on euro-denominated accounts of more than 1 million euros starting from 1st May.”

The charges imposed is the latest sign of the strain low interest rates are affecting the financial services industry.

News Source: Financial Times

 

About UBS

UBS Bank
UBS Bank

UBS Group AG (NYSE:UBS) is a global firm providing financial services to private, corporate and institutional clients. It was founded in 1862 and merged several times prior to 1998, when the Union Bank of Switzerland merged with Swiss Bank Corporation – become UBS Group AG. The operational structure of the Group is comprised of Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. The UBS Group is present in all major financial centers and has offices in over 50 countries.

  • Origin : Zurich, Switzerland
  • Assets : CHF 942.82 billion
  • Revenue : CHF 30.61 billion
  • Employees : 60,000

Official Website: www.ubs.com

News & Media: Press Release

Updated on 8th August 2016




Join more than 4,000 leading financial professionals in Asia to receive Caproasia exclusive newsletter here.

For financial professionals managing assets or advising client , sign up here. Gain advantage today as a Caproasia user. For existing Caproasia user, contact your regional representative.