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UBS Global Wealth Management’s APAC business more than doubled its profit before tax YoY in 1Q20, driven by improved operating efficiencies and significant growth in transaction-based income. UBS GWM’s 1Q20 profit before tax in APAC jumped from US$183 million to US$398 million YoY. Operating income was up 37% YoY from US$582 million to US$795 million, mainly driven by a 93%…
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