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UBS Profit Beats Estimates in Boost to Ermotti's Buyback Plans
News August 14, 2024 at 11:39 AM
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What You Need To Know
- The Zurich-based bank said net income was $1.1 billion, about double analyst estimates.
- A lower than expected loss at the unit winding down Credit Suisse legacy assets helped offset a miss in wealth management.
- UBS recently reorganized its wealth management arm into a new unit that brings its range of wealth offerings under one roof.
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