Economics
UBS, Credit Suisse Court Tennis Stars Made Rich by Sponsorships
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While Anna Kournikova and Serena Williams prepare for the Wimbledon tennis championship that begins this month, another competition is underway off court as bankers vie for top athletes' riches.
UBS AG and Credit Suisse Group as well as ABN Amro Holding NV and HSBC Holdings Plc have started units catering to athletes, whose pay has soared from corporate sponsorships. Smaller firms such as Lombard Odier & Cie and Banque Artesia (Suisse) SA may do the same. They're after an estimated $60 billion fortune that's rising by 18 percent a year.