Private Banking and Wealth Management Survey 2010 |
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UBS: An onshore network for offshore banking
February update: Grübel says return to profit is just the start for UBS
April update:UBS sends message to wealthy clients
AS THE FIRST anniversary of his appointment as chief executive of UBS approaches, Oswald Grübel has yet to convince the outside world that he is turning the bank around following two nightmare years of huge financial losses and serious damage to its reputation.
UBS is financially much more stable now than at any point since mid-2007. Last year, no doubt heavily guided by conservative Swiss regulators, it rebuilt its tier 1 capital ratio from 11% to 15% by the end of the third quarter, while reducing risk-weighted assets by 30%.