UBS Reports 1st Half 2017 Results
UBS reported 1st half 2017 results with adjusted profit before tax at CHF 3.6 billion. Global Wealth Management contributed 58.33% or CHF 2.1 billion to the earnings while invested assets increased by CHF 16 billion to CHF 1,039 billion.
” Global Wealth Management contributed 58.33% or CHF 2.1 billion to the earnings “
Asset Management’s invested assets reported a 9 year high of CHF 703 billion. In the same period, UBS Asset Management was granted Private Fund Management license in China. It is the first Qualified Domestic Limited Partner license-holder to receive a Private Fund Management license, and is authorized to provide onshore fixed income, equity, and multi-asset private funds to institutional and high net worth investors in China.
“Considering market conditions, the second quarter results were very good and contributed to a strong first half of the year. Our global wealth management business in particular delivered an excellent performance. The results once again demonstrate the value of our diversified business model, allowing us to grow profitably and sustainably over the cycle and in a variety of market conditions.” Sergio P. Ermotti, Group Chief Executive Officer
News Source: UBS Press Release
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