UBS GWM profit down 28% amid Credit Suisse integration, despite 12% revenue jump

By Kylie Wong , senior data reporter | 6 February 2024 | 4 minutes read
UBS, Hong Kong

UBS Global Wealth Management’s (GWM) operating profit before tax for FY23 dropped 28% YoY due in part to costs relating to its ongoing integration with Credit Suisse, despite a 12% jump in total revenue, according to the firm’s recent earnings report. In addition, UBS GWM attracted US$131.7 billion in net new assets in FY23, with Asia contributing the most net…

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