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UBS WM owes its “dominance” in Asia and the UHNW space to its IB, says group CEO Sergio Ermotti

The success of UBS Wealth Management’s Asia Pacific business, particularly in the UHNW segment, derived from the strength of the bank’s investment banking unit, UBS’ global CEO Sergio Ermotti said in a conference call for the bank’s first quarter earnings. UBS Wealth Management’s Asia business had a positive start to the year, with AUM growing by 6.5% quarter on quarter…

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