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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Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on ItExternal link

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It