UBS AG (UBS) Enjoying Robust Growth On Its Wealth Management Division

Switzerland’s biggest bank, UBS AG (NYSE:UBS), reported impressive earnings for the second-quarter, especially in its wealth management division that saw profits rise by 15%, which according to its CFO in an interview on CNBC can be attributed to the stable growth of the U.S economy. The core wealth management business performed well in the quarter aiding the company’s stellar results.

UBS AG (USA) (NYSE:UBS)

UBS AG (NYSE:UBS)’s CFO, Tom Naratil, could not fail to advise investors to pay a closer watch on the U.S and Canadian equities as some of the places where the company remains favorable as well as the North American energy boom that the company is closely monitoring.

“We look at the U.S economy we fill quite well about the growth that we see. What we are advising our clients to do. U.S equities and Canadian equities are actually where we are quite favorable also the theme of North American energy is one that we are very focused on,” said Mr. Naratil.

UBS AG (NYSE:UBS)’s clients continue to hold excess amount of cash, according to the CFO, attributed to the fact that parts of Europe and other places around the globe are not growing at the same pace as the U.S. economy. Wealth management in America for the company achieved a milestone in the quarter as the company surpassed the trillion-dollar mark, in terms of invested assets. Representing a quarter of trillion, increase in just less than three years.

Productivity for the company’s financial advisers remains at a record high, at $1.1 million, and the best in the industry. UBS is also boasting of a business portfolio that generates more than a billion in pretax profit.

“[...] We had a great milestone that we achieved in wealth management in America, this quarter. We surpassed a trillion dollar in invested assets; that is an increase of a quarter of a trillion over just three years ago. Productivity for our Financial Advisers is the highest in the industry and at a record high, at $1.1 million, and we have a business that generates more than a billion dollars in pretax profit a year so we are happy with our performance in WMA,” said Mr. Naratil.

UBS AG (NYSE:UBS) net profit for the second quarter rose from 690 Swiss francs to a high of 792 Swiss francs having settled an investigation in Germany where it was accused of aiding some clients evade paying taxes. The bank was forced to pay $403 million to put the case to rest.

Disclosure: none

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!