UBS: Timid clients kick profits to the side

Revenues will be more volatile in a business that has become more focused on fewer clients and products

UBS: Timid clients kick profits to the side
Photo: iStockPhoto

Scared money don’t make none. UBS suffered a big drop in revenues and a collapse in first-quarter profits despite its biggest quarterly net inflow of funds from wealthy clients in at least two years.

Trouble is, being a safe harbour for world's super-rich doesn't mean a great deal if they aren't going to do anything with their money.

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