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UBS aims high in wealth management as investment bank shines in third-quarter

Business Finance

Reuters  |  ZURICH 

ZURICH (Reuters) - UBS, Switzerland's biggest bank, posted a surprise 32 percent rise in third-quarter net profit amid a bumper quarter for its investment bank and said it aims to grow wealth management profits at the upper end of its target over 2019-2021.The world's largest wealth manager said it wants earnings in its Global Wealth Management division to expand at the upper end of a 10-15 percent pre-tax profit target over the next three years while it brings in fresh money at a 2-4 percent annual rate.The new targets come as geopolitical jitters and trade tensions have put pressure on the ...

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First Published: Thu, October 25 2018. 12:04 IST