UBS is an investor favourite

Sergio Ermotti Interview Pic

UBS’s decision three years ago to close debt-trading desks, slash risky assets at its investment bank and concentrate on managing money for the wealthy helped make it a favourite among investors.

Bloomberg News reports that since then, its stock outperformed global peers including Deutsche Bank, Barclays and Credit Suisse, which are still revamping their businesses to cope with stricter capital rules, rising legal costs and record-low interest rates.

UBS may report a more than doubling in third-quarter net income to $1.81bn on Tuesday, based on the average forecast of four analysts surveyed by Bloomberg, after booking legal provisions of $1.83bn a year earlier.

To access the complete Bloomberg News article hit the link below:

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