Newly-hired brokers help UBS unit


Revenue at the U.S. UBS brokerage unit inched up at the end of 2014 as clients of newly hired brokers transferred fee-generating assets to the firm, brokers made more interest-generating loans and customer trading accelerated in a rising stock market.

Reuters reports that expenses rose more than profits on growing compensation costs.

Pretax operating profit at UBS Wealth Management Americas fell 15 percent from both the year-earlier fourth-quarter and the third quarter of 2014 to $217 million.

UBS Wealth Management Americas' financial adviser count, which topped 10,000 before the financial crisis, fell to 6,997 at yearend, down 140 from 12 months earlier.

Hit the link below to access the complete Reuters article:

UBS Wealth Management Americas client assets, and costs, rise

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