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UBS hopes to boost wealth management profits through private markets, digital client engagements

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Yong Jun Yuan

Yong Jun Yuan

Published Tue, May 24, 2022 · 06:44 PM
    • August Hatecke, co-head of UBS Wealth Management Apac, said pressures in Chinese markets and the war in Ukraine have pushed investors on to the sidelines.
    • August Hatecke, co-head of UBS Wealth Management Apac, said pressures in Chinese markets and the war in Ukraine have pushed investors on to the sidelines. PHOTO: UBS

    AS global uncertainties push clients to the sidelines, Zurich-based bank UBS is working to revive profits for its wealth management business by engaging its clients with digital content and private market products.

    The bank’s global wealth management segment had disappointed with a first-quarter profit before tax of US$1.31 billion, down 7 per cent year on year.

    This fall was led by a 19 per cent decline in transaction-based income, to US$954 million, which the company attributed to weak sentiment.

    UBSBanksWealth management

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