View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
July 27, 2010

WaPo: UBS outflows slowing down, not stopping

By Spear's

UBS said today that client outflows from its closely-watched wealth management arm decelerated further in the second quarter to SFr5.2 billion (around $4.96 billion), compared with SFr8.0 in the previous three months, while the Swiss bank stated it hoped to reverse withdrawals by the end of this year.

UBS said today that client outflows from its closely-watched wealth management arm decelerated further in the second quarter to SFr5.2 billion (around $4.96 billion), compared with SFr8.0 in the previous three months, while the Swiss bank stated it hoped to reverse withdrawals by the end of this year.

Within the Wealth Management segment, there were net inflows in the Asia Pacific region, from ultra high net worth clients, and in certain European locations, the Zurich-listed bank said. Overall, there was a slightly net outflow in Europe. In Wealth Management Americas, there was a net out outflow of SFr2.6 billion, but far less than the outflow of SFr7.2 billion in the previous three months.

“We continue to see outflows from our cross-border segment and that does impact on Switzerland. As for Europe, there’s still some work to be done there. It is difficult to say when there will be a turnaround – we hope we can see that by the end of the year,” John Cryan, chief financial officer, told journalists in a conference call.

To read the full story, visit washingtonpost.com

Content from our partners
How the Thuso Group’s invaluable experience and expertise shaped the Spear’s Schools Index 2024
AP Executive: Your Trusted Global Partner in Wealth Management Recruitment
A League of Their Own

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network