UBS Attracts Highest Wealth Management Inflows Since 2007
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UBS AG, Switzerland’s largest bank, attracted the most new money from wealthy customers since the end of 2007 and reported first-quarter profit that beat analysts’ estimates.
UBS rose 3.9 percent in Swiss trading, the biggest gain in two months, after wealth management and retail clients added a net 16.7 billion francs ($19 billion), more than double the estimate of analysts surveyed by Bloomberg. Net income was 1.81 billion francs, topping the 1.69 billion-franc forecast of analysts.