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UBS to Push Harder on Wealth Management Acquisitions

Employees pass between offices at the UBS headquarters in Zurich.

Employees pass between offices at the UBS headquarters in Zurich.

Photographer: Stefan Wermuth/Bloomberg

UBS Group AG plans to pursue acquisitions of wealth management assets more aggressively after gaining greater clarity from global regulators on how much capital the bank will need over coming years, according to people with knowledge of the matter.

The Zurich-based company is now keen to purchase targets with portfolios of at least 10 billion Swiss francs ($10.6 billion), said people briefed on the bank’s plans, asking not to be identified because talks are private. The lender has told analysts it has financial room for deals and other investments after guiding conservatively on how much it will spend to buy back shares, two of the people said.