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UBS Asia assets at US$262.5 billion, new money grows at 16%

The gulf between Swiss banking giant UBS and its competitors continues to grow as second quarter results from the bank show. Strong performance by its core wealth management business and a trimmed-down investment banking book helped net profit for April to June to total CHF 792 million (US$ 876 million). Strong inflows and aggressive hiring helped the bank’s Asian wealth…

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