UBS Wealth-Management Unit Seen Posting Drop in Profit: ChartBy
A little over three years after UBS Group AG Chief Executive Officer Sergio Ermotti declared wealth management the cornerstone of the Swiss lender’s strategy, shareholders have to come to terms with the idea that the division is not completely immune to market swings. Analysts forecast the wealth-management division to report a 34 percent drop in first-quarter profit from a year earlier, when excluding the brokerage business in North America. The Zurich-based bank is scheduled to report quarterly earnings on May 3.
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