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UBS Wealth Management Q2 – the praise that reduced expectations brings

UBS has come out with an earnings statement that has beat expectations. The bank’s wealth management division declared income of SFr658m (US$626m) in the second quarter, up 21% from the corresponding quarter in 2009, but down 5% from the first quarter of 2010. Including Swiss Bank, the wealth management results clocked in at SFr1.1bn, up 21% yoy but down 3%…

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