- Going where the money is, UBS has hired 88 wealth advisors in Asia after AUM there jumped 38% over the last two years. The recruits will be based in Hong Kong and boost the total advisors in Asia to 1,120.
- UBS, along with its Swiss competitors is refocusing away from investment banking and back to wealth management, and within wealth management, much of that focus is in emerging markets. UBS's wealth management unit earned $531M in Q4, up 18% from the previous year.