UBS Investment Bank Buoyed by Corporate Finance Team
- Landmark deals supported bank in tough quarter for trading
- CCS revenue tops $700 million for fourth straight quarter
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UBS Group AG relied on its corporate finance business to boost profit for the investment bank in a tough quarter for trading.
The division that advises companies on mergers and helps them with share and debt sales generated 35 percent more income in the three months through September. Landmark transactions supported the performance, UBS said, while stock-related activities contributed more than twice as much as revenue as a year ago.