UBS wealth management sees strong inflows amid profits slump
Swiss bank UBS reported the strongest inflows to its wealth management division since 2008, although pre-tax profits were lower than analyst expectations and below last year.
UBS
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PEOPLE MOVES: Amundi, Cazenove, Northern Trust…
Amundi subsidiary CPR Asset Management has named a new chief executive, with Cazenove’s new chief investment officer joining from Architas. Northern Trust AM has a new head of Asia Pacific, while the chief executive of newly rebranded Al Hilal is to depart.
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Dutch citizens facing Swiss bank account probe
Thousands of Dutch citizens face having details of their Swiss bank accounts combed over by tax authorities despite a court ruling that they should not have been disclosed.
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UBS WM reports Asia income growth
UBS Wealth Management, part of Swiss bank UBS, said income from its Asian operations rose in 2015 while other regions were down.
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UBS, Deutsche Bank lose major UK banker bonus tax case
HM Revenue & Customs (HMRC) has shut down a major tax avoidance scheme used by bankers at UBS and Deutsche Bank to avoid paying around £135m in tax.
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US tax authorities demand Singapore bank records
The US Internal Revenue Service (IRS) wants Singapore to waive its bank secrecy laws and push UBS into releasing financial information of a US citizen.
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Belgium charges UBS with serious and organised tax evasion
A Belgian judge has charges Swiss bank UBS with money laundering and serious and organised tax evasion, according to media reports.
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Lombard Int’l names CEO successor to John Van Der Wielen
Lombard International has named former UBS Deutschland chief executive Axel Hörger as head of its European operation, succeeding current incumbent John Van Der Wielen.
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Millennials reluctant investors in the economic recovery
Eight out of 10 wealthy investors across the Americas believes the economic recovery has met or exceeded expectations but remain hesitant to invest, with Millennials the most conflicted.
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Outflows dampen UBS fourth quarter and annual results
Outflows from Europe and emerging markets dented UBS Wealth Management’s fourth quarter results, while annual inflows ebbed dramatically standing at less than a third of their 2014 levels.
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UBS WM launches UHNW Academy in Asia Pacific
UBS Wealth Management is targeting its senior ultra-high-net-worth (UHNW) advisers with the launch of the investment bank’s UHNW Academy in Asia Pacific, as part of the training programme’s global roll-out.
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UBS WM bullish on Europe, China
A strong overweight on equities in Europe and a surprising move on emerging markets are among UBS’s allocation calls for 2016, according to Patrick Grossholz, Asia-Pacific head of investment management.