UBS Global Wealth Management (UBW GWM) soaked up US$16.2 billion in net new money in 2Q23, a record for quarterly net new money in over a decade. APAC contributed US$1.8 billion, or 11% of the net new money. In 2Q22, UBS GWM recorded net new money outflows of US$17.6 billion. While transaction-based income from UBS GWM reduced 6% YoY to…
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