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UBP’s Asia hiring spree is yet to help with padding up profits

Union Bancaire Privée’s hiring spree in Asia has not had the effect of cushioning the drop in income from low interest rates back home, even as acquisitions and hiring related expenses weigh on near-term profit growth. For the half year period that ended in June, the Geneva-based wealth and asset manager’s net profit dropped 6.8% YoY to CHF 100.2 million…

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