The investment-banking trends revealed by Wall Street have played out in an extreme fashion at UBS Group AG.
Revenue from advising chief executive officers on deals and arranging financing for their firms was incredibly strong in the second quarter. So too was equities trading. This more than offset the expected normalization of fixed-income revenue after 2020’s exceptional trading conditions. Meanwhile, the Swiss bank’s wealth management franchise continued to hoover up new money. The question for CEO Ralph Hamers remains how to turn this into a higher valuation for the shares.
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July 20, 2021 at 04:15PM
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UBS Outshines Wall Street Peers. Now Do It Again - Bloomberg
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