UBS Global Wealth Management’s (UBS GWM) profit before tax fell 11% YoY to US$1.16 billion in 2Q22 as the Swiss bank was hit by market volatility and poor investment sentiment. However, inflows of net new fees-generating assets (NNGFA) in Asia-Pacific during the quarter helped to offset other regions. Citing one of the worst periods for global markets in recent history,…

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