We have updated our Terms of Use.
Please read our new Privacy Statement before continuing.

No wholesale change

4 Nov 2021 By Liam Proud

Chair António Horta-Osório is moving $3 bln of capital from the investment bank to wealth management. But he’s keeping most of the error-prone unit, which chews up capital and has few synergies with the rest of the bank. The clunky structure cements a share price discount to UBS.

This content is for Subscribers only

 

Email a friend

Please complete the form below.

Required fields *

*
*
*

(Separate multiple email addresses with commas)