UBS Investment Bank Has Worst First Quarter Under Ermotti: Chart

UBS’s investment-banking division, led by Andrea Orcel, had the weakest pretax profit since the global financial crisis, as trading revenue plunged by a quarter. Corporate Client Solutions, the unit housing the advisory business, saw revenue drop 39 percent. While Chief Executive Officer Sergio Ermotti has focused the bank on wealth management and cut securities operations since taking over in 2011, the shares dropped the most in three months.

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